Wednesday, 14 May 2014

Myanmar-China border trade amounts more than US$ 3.8 billion

Myanmar-China border trade has yielded more than US$ 3.8 billion, of which Muse border trade camp sees the majority of transactions at $3.6 billion.

The trade value is about the same as that of the previous year. Exports from last April to March total more than $2.4 billion and imports are at $1.3 billion.

Cross-border trade at Muse amounted to $3.6 billion, followed by Loigyae border camp ($75 million), Chin Shwe Haw border camp ($247 million) and Kanpiketi border camp ($29 million).

The Ministry of Economic and Commerce has legalised cross-border trade. Presently Myanmar operates trade camps with neighbouring countries in Muse, Loigyae, Chin Shwe Haw, Kanpiketi, Techilek, Myawady, Kawthaung, Myeik, Nabule, Htikhi, Mawtaung, Sittwe, Maungkaw, Tamu and Riv.

Trading worth more than US$ 3.6 billion was transacted at Muse border trade camp opened by the Ministry of Economic and Commerce for legal trading, with over US$ 75 million at Loigyae border camp, more than US$ 247 million at Chin Shwe Haw border camp, and over US$ 29 million at Kanpiketi border camp.

Despite legal cross-border trade, smuggling activities persist. Smugglers often try to evade custom checks by using lesser-known routes or by concealing the cargos.

The authorities have stepped up the suppression of illegal trade. If arrested, offenders will be charged to the fullest extent of the law under the import-export legislation, said in a warning issued by the illegal trading prevention central committee.

source: Eleven Myanmar
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