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April 11, 2018

Myawady gate registered highest value of individual trading

Vehicles seen at Myawady border trade zone. Photo: Supplied

Border trade with the use of Individual Trading Cards (ITCs) reached its highest record of Ks34.4 billion at Myawady gate during the 2017-2018 fiscal year, according to statistics released by the Commerce Ministry.
Individual trading card holders primarily imported goods through Myawady gate, with exports worth only Ks6.8 million.
The Trade Department issued 168 cards to individual traders between 1st April 2017 and 31st March 2018, and individual trading card holders conducted trade worth Ks45.9 billion. Exports were valued at only Ks5.3 billion, while imports reached more than Ks40.6 billion. The value of trade carried out by individual card holders last FY was registered at over Ks3.2 billion in Tamu, over Ks51 million in Muse, Ks34.4 billion in Myawady, Ks944 million in Tachilek, over Ks56 million in Lwejel, over Ks4 million in Chinshwehaw, over Ks1.71 billion in Kanpiketee, over Ks869 million in Kawthoung, over Ks1.2 billion in Reed, over Ks3 million at Htantlan Township, over Ks3.33 billion in Mawtaung and Ks160 million in Kengtung, according to official statistics from the Commerce Ministry.
The trade values with ITC were reported at over Ks737 million from 21st Nov 2012 to 31st March 2013, over Ks6.6 billion in FY 2013-2014, over Ks9.3 billion in FY 2014-2015, over Ks6.4 billion in FY 2015-2016 and over Ks18.9 billion in FY 2016-2017.
The Trade Department has so far issued 1,432 cards, with 292 cards from 21st Nov 2012 to 31st March 2013, 261 cards in FY 2013-2014, 317 cards in FY 2014-2015, 146 cards in FY 2015-2016, 248 cards in FY 2016-2017 and 168 cards in FY 2017-2018. The Trade Department issued trade cards in a bid to boost border trade. A businessman can trade Ks3 million worth of goods per day using ITC, and then, the Trade Department granted trade values of up to Ks15 million per day, which is a five-day-trade-value.

 

 

Ko Htet

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