Tuesday, 1 July 2014

MTC opened to woo foreign buyers

The Myanmar Trade Centre has been opened to boost the country’s exports and woo foreign buyers.

The MTC, officially launched on Saturday, is located at Yangon office of the Commerce Ministry.

MyintSwe, the PM of Yangon Region and other regional government officials, Win Myint, the union minister of commerce and other officials, Win Aung, the chairperson of UMFCCI and other officials attended the opening ceremony.

The MTC will answer questions related to doing business, disseminate trading information, organise export promotion exhibition, act as reference library for trade, run seminar and training.

Win Myint voiced confidence that the MTC could help local proprietors to gain the knowledge of the market they seek. 

The country’s main exports are agriculture produce, livestock, fishery, forest products, mineral extraction, manufacturing products and commodities.

In the last fiscal year, international trade was at US$24 billion, comprising $11 billion in exports and $13 in imports. This resulted in $3 billion trade deficit.

The National Exports Strategy has been drafted and the review process on trade policy is ongoing.

The country enjoys European Union tariff privileges. The US has relaxed but not lifted the sanction on grounds that the country has not complete its reforms. Some 5,000 products from Myanmar are still not listed on the US generalised system of preferences.

source: Eleven Myanmar
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