Individual traders import goods worth 400m kyats

Individual Myanmar merchants have imported more than 400 million kyats (Bt14 million) worth of goods via three border towns – Myanmar-India, Myanmar-China and Myanmar-Thailand, as of February 15.
 

Among the three towns, merchants from Tamu, using the Individual Trade Card system (ITC), have imported the most.

Authorities in the three border towns – Tamu, Muse and Myawady – are issuing ITCs with the aim of boosting individual trading and curbing illegal border trade.

The import trade volume is higher than the export trade. Statistics show that within four months, merchants using the individual trade system have imported 419 million kyats worth of goods while they exported goods worth 19 million kyats.

Tamu border trade centres started issuing ITCs last November. One month later, Muse and Myawady border trade centres followed suit.

The authorities are planning to issue more individual cards at other border trade centres such as Sittwe on the Myanmar-Bangladesh border. The Tachilek border trade centre started the system on February 1.

Card holders must follow rules and regulations described for border trade, while “Transit Trade” has been prohibited. The card holders are allowed to trade 157 export items and 242 import items.

 

source: Eleven Myanmar

http://elevenmyanmar.com/business/2548-individual-traders-import-goods-worth-400m-kyats