YANGON, Myanmar, Dec. 9 (UPI) -- Trade between China and Myanmar, formerly known as Burma, increased dramatically in 2007, incomplete statistics from the emerging Asian nation showed.
China's official Xinhua news agency reported Sunday the increased trade between the two countries so far this year has allowed China to become Myanmar's second-largest trading partner overall.
Tang Hai, economic and commercial counselor of the Chinese Embassy in Myanmar, said the increased cooperation between the two Asian countries was due to a new deep friendship and geographical links.
Tang said in the first three quarters of 2007, the bilateral trade volume between China and Myanmar reached $1.435 billion, with the majority of that representing Chinese imports.
Chinese imports to Myanmar typically focus around oil, steel and textile products, while Myanmar imports range from natural rubber to raw wood.
Tang also credited China with aiding Myanmar's overall economic development in recent years by fostering a relationship built on joint development and mutual benefit, Xinhua reported.