Border trade hits over 700 million dollars over one month

Border trade hits over 700 million dollars over one month
Published 14 November 2018
Zeyar Nyein

From October 1 to November 2 of 2018-2019 fiscal year, the total border trade value reached US$ 705.994 million, up US$ 96.103 million compared with the same period last year, according to the Commerce Ministry.

Muse border trade camp at Myanmar-China border hit US$ 345.097 million, accounting for 48.88 per cent of the total border trade.

Myanmar has opened 17 border trade camps along its border. Among them, Muse and Myawady border trade camp sees the highest trade volume.

According to the Commerce Ministry, Myanmar’s exports to China via Muse trade camp hit over US$ 225.256 million and imports, over US$ 119.841 million. Myanmar exported US$ 10.346 million to Thailand and imported US$ 65.147 million at Myawady border trade camp in Myanmar-Thailand border.

In a bid to reduce trade deficit, the Commerce Ministry is working to lay down the national export strategy, relax the restrictions of procedures, encourage private sector and exports of value-added products and extend the export market.