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May 28, 2020

Individual imports from borders exceed Ks31 billion in current fiscal year

File photo shows cars passing through the Myawady Border gate.  Photo: Supplied
File photo shows cars passing through the Myawady Border gate.  Photo: Supplied

BORDER imports using individual trading cards (ITCs) topped Ks31.349 billion this fiscal year, while individual exports were Ks3.509 billion, according to the Ministry of Commerce.
Of the nation’s 15 active borders, Myanmar imported a wide variety of commodities through 11 borders, including at Tamu, Muse, Myawady, Tachilek, Lwejel, Chinshwehaw, Kanpaiktee, Kawthaung, Reed, Htantalan and Mawtaung.
At the cross-border gates, individual imports from Myawady border gate ranked first, both for its volume of trade and its value, followed by Kanpaiktee with Ks1.6 billion, Mawtaung at Ks996 million, Reed at Ks760 million, Kawthaung reported at Ks674 million, Htantalan with Ks628 million and Tachilek at Ks600 million.
The ministry’s statistical report indicated that the value of trade from the remaining border points was lower than Ks400 million. The total individual trade from the 12 border entry points, as of January 19, reached Ks34.859 billion.
Since the 2012-2013 FY, the Ministery of Commerce has issued ITCs to border traders, as part of its efforts to boost cross-border trade. From the beginning of the programme, to date, there are some 1,405 ITC holders at the cross-borders. The trade authorities have issued 141 cards to individual traders this FY.
The ministry is working to expand trade through regional and international cooperation, promote measures to increase exports, and expand trade by means of advanced ITCs, as well as formulate trade policies, in line with the market economic system, and improve the trade environment under its trade policy objectives.—Shwe Khine

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