Myanmar pharmaceutical imports top $303 mln in seven months

LOCAL NEWS

The import value of Myanmar pharmaceutical products was estimated at US$303.5 million in the seven months (Oct-Apr) of the current financial year 2020-2021, according to Myanmar Customs Department.
Myanmar imports 90 per cent of medicine and medical products through foreign markets, the Myanmar Chamber of Commerce for Pharmaceutical & Medical Device (MCCPMD) stated.
India is the main supplier for Myanmar. Also, it is imported by Bangladesh, China, Germany, Indonesia, Japan, Republic of Korea, Malaysia, the Philippines, Singapore, China (Taipei), Thailand, US and Viet Nam.
Trade has returned to normalcy after panic buying during the coronavirus pandemic. Most commonly prescribed drugs are available in the market. Only some are out of stock for now. At present, pharmaceutical import is regularly flowing. However, the prices of pharmaceuticals were up by 5 to 10 per cent owing to the dollar appreciation.
The Ministry of Commerce has cut the red tape for imports of some pharmaceuticals which have been earlier imported.—KK/GNLM

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