Individual trade at borders tops K14.9 bln in FY 2018-2019

105 mile Border Trade Zone Inspection Gate in Muse.  Photo: Phoe khwar
105 mile Border Trade Zone Inspection Gate in Muse.  Photo: Phoe khwar

Myanmar’s border trade using Individual Trading Cards (ITCs) in the current 2018-2019 fiscal year topped K14.9 billion (roughly US$9.67 million), according to the Ministry of Commerce.
From 1 October through 21 December, the export value with ITCs totalled K2.8 billion ($1.82 million), whereas the import value with ITCs reached
K12.1 billion ($7.85 million) in imports.
Over the first 82 days of this FY, Myanmar exported domestic goods at only four border gates, including Tamu, Tachilek, Mawtaung and Kengtung. However, it imported foreign products through ten border points—Tamu, Muse, Myawady, Tachilek, Lwejel, Kanpaiktee, Kawthoung, Reed, Mawtaung and Kengtung.
During this period, the Myawady border trade camp topped the list with trade valued at over K7.33 billion (nearly $4.76 million).
Border trade values through ITCs were K4.44 billion ($2.87 million) at Mawtaung, K1.55 billion ($1.004 million) at Tamu, K690 million ($447,830) at Kawthoung, K504 million ($326,869) at Kanpaiktee, K276 million ($179,255) at Kengtung, K53 million ($34,972) at Reed, K40 million ($26,529) at Tachilek, K18 million ($11,823) at Muse and K3 million ($2,204) at Lwejel.
The ministry has issued 1,585 Individual Trading Cards since FY2012-2013. During this FY, 61 applicants have been granted ITCs. Trade authorities granted 92 ITCs to merchants in the 2018 mini-budget period between April and September.—Khine Khant
(Translated by Khaing Thanda Lwin)

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