Myanmar achieves 80% of border trade goal

YANGON – The Myanmar government aims to earn more than US$6 billion through legal border commerce this fiscal year, and thus far, it has achieved nearly 80 per cent of that goal, according to the Ministry of Commerce.

Myanmar has opened 15 border trade centres to facilitate legal trading with China, Thailand, India and Bangladesh.

Merchants can trade at border trade centres by applying for trade licenses and Individual Trade Certificates (ITC).

From April 1 to January 2 of this fiscal year, Myanmar earned more than $3 billion from exports and it spent over $1 billion on imports, bringing the total trade volume to over $4 billion.

Of all Myanmar’s border trade centres, the Muse border trade centre on the Myanmar-China border generates the highest revenues for Myanmar through exports.

However, there is still illegal trading across Myanmar’s borders. The Customs Department made most of its seizures of illegal goods in the border regions.