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August 08, 2020

ITC border trade hits K29 bln in 7 months of this FY

Myawady is a border trade route of Myanmar with Thailand. Photo Htein Lin Aung (IPRD)
Myawady is a border trade route of Myanmar with Thailand. Photo Htein Lin Aung (IPRD)

Border trade value with the use of the Individual Trading Card (ITC) from 1st October to 30 April reached over K29.14 billion, according to the Ministry Commerce.
The export value with ITCs is K2.3 billion while the import value with ITCs is over K26.74 billion in seven months of this fiscal year.
Out of border trade camps, Myawady border trade zone is reported to have the biggest volume of trade with a value of K18.56 billion and followed by Mawtaung border trade zone with K5.11 billion, according to the official figures of the Ministry of Commerce.
The Trade Department issued a total of 1,734 cards so far, including 292 cards from 21st Nov 2012 to 31st March 2013, 261 cards in 2013-2014FY, 317 cards in 2014-2015FY, 146 cards in 2015-2016FY and 248 cards in 2016-2017FY, 168 cards in 2017-2018FY, 92 cards from 1st April 2018 to 30 Sep 2018 interim period, 163 cards in 2018-2019FY and 47 cards from 1 October 2019 to 30 April 2020, according to figures released by the ministry.
A businessman can trade K3 million a day with an ITC, and the trade department granted trade value up to K15 million a day, which amounted to a five-day trade value. —Zwe (Translated by Hay Mar)

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