In nearly eight months of current fiscal year, the total border trade value exceeded 7.5 billion US dollars, up over 450 million US dollars compared with the same period last year, according to the Commerce Ministry.
Till 29 May of 2019-20 FY, the total border trade amounted to 7.525 billion US dollars, up 452.525 million US dollars compared with the last year’s figure of 7.072 billion US dollars.
The trade volume at Muse border trade on China-Myanmar border exceeded 3.2 billion US dollars, down over 31 million US dollars compared with the same period last year.
Myanmar has opened 18 border trade camps.
The total trade value is expected to hit 34 billion US dollars in 2019-20 FY. The export sector is expected to earn around 18 billion US dollars, said Union Minister for Commerce.
Myanmar’s major export items are agro, animal, marine, forest and industrial finished products and other products. Myanmar mainly imports capital goods, raw materials, personal goods and CMP products.
In a bid to boost the trade sector, the ministry needs to promote the quality and quantity of export products and import more capital goods which help support long-term economic development, Dr. Than Myint added.
