The marine exports of Myanmar hit over 234 million U.S. dollars in the fiscal year 2006-07 which ended in March, up 14 percent from 2005-06's 205 million dollars, a local media reported Monday.

The country targets to increase the export value up to 750 million dollars in the present fiscal year of 2007-08 in the light of rising foreign market demand for the products, the Voice quoted the Ministry of Commerce as saying.

According to the sources, of the line-up of Myanmar's top-10 marine exporting countries and regions, China has stood first for the past eight consecutive years since 1998-99, replacing Singapore which held the status previously.

In Myanmar' 2005-06 top-10 marine exporting destination line-up, China was followed by Thailand, Japan, United Arab Emirates, Malaysia, Saudi Arabia, Singapore, China's Hong Kong, Bangladesh and Britain.

During the year, China imported 101,676 tons of the marine products from Myanmar valued at 102.69 million dollars, while Thailand did so with 62,041 tons at 52.45 million dollars, the sources said.

Significantly, of the top-10, Saudi Arabia rose to the 6th position in the year from a non-top-10 destination status ever before with 15,183 tons at a value of 17 million dollars, the sources added.

According to official statistics, Myanmar's fishery sector stands the fourth largest contributor to the gross domestic product and also the fourth largest source of foreign exchange earning in the past five years.

To promote the development of the fishery sector, Myanmar encouraged the establishment of more fishery companies to produce and export fishery products especially through border trade with neighboring China and Thailand.

The country also urged exporting of quality products to the international fish and prawn market for market competition.

Meanwhile, the Myanmar Fisheries Federation has become a member of the ASEAN Fisheries Federation in September 2002.

With a long coastline of over 2,800 kilometers and a total area of 500,000 hectares of swamps along the coast, the country has an estimated sustainable yield of marine products at over one million ton a year.