Tawau: Deputy Home Minister Datuk Tan Chai Ho announced Wednesday that RM70 million has been approved by the Federal Government to build a comprehensive barter trade port here.

Speaking after visiting the present barter trade port near the fish market here, he said the development, which would include the Customs, Immigration and Quarantine (CIQ) complex, is expected to start next year under the Ninth Malaysia Plan.

The new port would give better facilities to barter traders from Indonesia and Philippines with a combined trade value of about RM15 million every month.

Tan said movement of people at the port was also increasing especially during holidays when about 3,000 people coming in and out of the present port. From January to April this year, a total of 171, 356 of people were recorded using the barter trade port.

Three sites for the new port namely in Tanjung Batu Darat, Sungai Imam or at the present site had been proposed and checked by the Ministry, he said, adding that he felt the present site was the most suitable.

With a better facilities it would further boost the barter trade industry and spur greater economic development for the district, he said.