In the 2024-2025 financial year, Myanmar has set an ambitious export target of $16.7 billion, achieving 60% of this goal within the first eight months, according to the Ministry of Commerce. Additionally, the estimated import target for the fiscal year is $16.3 billion.
Union Minister for Commerce, U Tun Ohn, highlighted these developments during a business coordination meeting held in Nay Pyi Taw on December 17. He reiterated the importance of not only meeting the remaining export target but also doubling the country’s current export capacity.
Citing the State Administration Council chairman’s remarks from the 100th anniversary of Myanmar’s economic celebrations on November 28, the Union Minister stated, “For a developing country, a high level of marketable manufacturing is critical. Despite various restrictions, our nation must strive to double its current exports to contribute to national development.”
The Union Minister emphasized the need to enhance industrial activities utilizing local raw materials such as cotton, bamboo, and rubber. He also stressed the importance of implementing the “One Region, One Product” (OROP) initiative to boost the production and export of regional crops.
Calling for collaboration, the Union Minister urged business owners to work closely with the government and private sector to achieve these export goals and support the country’s economic growth.
