YANGON, Nov. 13 (Xinhua) -- Myanmar has planned to add one more border trade point in its western Rakhine state linking Bangladesh, the local weekly Pyi Myanmar reported Thursday quoting the Directorate of Border Trade.

    Tender for building the infrastructure of the new border trade point planned at Taungphyo township is being called for, the report said.

    The Taungphyo border trade point will be Myanmar's third with Bangladesh after Sittway and Maungtaw in the same state.

    Currently, Myanmar and Bangladesh are engaged more in border trade than in normal trade. Myanmar exports to Bangladesh marine products, beans and pulses, and kitchen crops, while it imports from Bangladesh pharmaceuticals, ceramic, cotton fabric, raw jute, kitchenware and cosmetic.

    The two countries formally opened border trade in 1994.

    Bilateral trade between Myanmar and Bangladesh now stands at 140 million U.S. dollars and a target of 500 million dollars for the next fiscal year 2009-2010 is being strived.

    Official statistics showed that Myanmar exported 23,000 tons ofmarine products to Bangladesh annually, standing as Bangladesh's fifth largest marine products importing country out of 30.

    Meanwhile, during a visit to Dhaka by Vice-Chairman of the State Peace and Development Council Vice Senior-General Maung Aye in early October this year, the two sides decided on purchase of 100,000 tons of rice from Myanmar by Bangladesh, import of pharmaceuticals from Bangladesh, construction of a 25-km trans-border road and delimitation of maritime boundary.

    An agreement on avoidance of double taxation was also signed during the Myanmar leader's Bangladesh trip.