Border trading cards attracts few but hits half million dollars

Only a few hundreds of Myanmar merchants are using Individual Trading Cards (ITC) to trade goods at border stations but their trade volume has exceeded over half million dollars within 5 months, according to the Border Trade Department.

 

Since four border stations started issuing ITC to merchants last November as a bid to encourage legal trade, only 261 people applied it. However, their trade reached 550 million kyats or US$625,000 on March 12.

 

Traders mainly import goods using ITC. They have imported various goods worth over 520 million kyats, while their export is over 25 million kyats.

 

The card holders are allowed direct trade at borders only. They cannot involve in transit trade. They also need to make dealings on the basis of two countries’ currencies only.

 

The card allows them to export 157 kinds of goods and import 242, according to the department.

source: Eleven Myanmar
http://elevenmyanmar.com/business/2893-border-trading-cards-attracts-few-but-hits-half-million-dollars