Myanmar earned over US$10 billion from foreign trade from October 1 to January 25 in 2018-19 FY and trade deficiency reached to over US$1.1 billion although it earned US$210 million more in compared with the same period in last fiscal year, according to Ministry of Commerce.
Myanmar earned over US$4.636 billion from foreign trade sector within two month time of 2018-19 FY and the import amount is US$5.801 billion in that period.
Dr Than Myint, Union Minister for Commerce said the ministry will find ways to increase the export of rice, maize and sugar and to use barter system to exchange farming products via Chin Shwe Haw border trade with products from China.
Moreover Myanmar will import goods which can assist the development of the economy in addition to increase the quality and quantity of the products in export sector, said the union minister during a 24th annual meeting of Myanmar Pulses, Beans & Sesame Seeds Merchants Association.
The ministry is setting plans for national level export strategies to reduce rules and regulations, to promote private sector, to enhance value-added products, to have exception to preferential tariff systems such as GSP in export sector.
