Home MMBIZ News ITCs Leading to Imports, Fighting Hampers Trade

ITCs Leading to Imports, Fighting Hampers Trade

Imports exceeded exports by K3.1 billion in the trade through Individual Trading Cards (ITC) at the border trading points as of February 13 during the current 2014-15 fiscal year, according to the statistics of the Ministry of Commerce.

Currently, trade with ITCs at Chin Shwe Haw, which is one of the places where trade with ITC is the highest, has stopped, because fighting erupted in Kokang, which is close to the border trading point. Trade with ITC in the area stood at K1.3 billion as of February 13 in 2014-15.

Total trade volume with ITCs during the period stood at over K8.1 billion, of which imports accounted for K5.61 billion.

ITCs have been issued through a one-stop service since 2012 at the border trading stations in Myawaddy, Tachileik, Lweljel, Chin Shwe Haw, Kan Paik Tee, Reed, Myeik, Kawthaung, Htantalan, Mawtaung, Hteekhi, and the local branches of the Ministry of Commerce in Mandalay, Kyaingtone and Myitkyina.

In total, 310 ITCs have been distributed.

Trade with ITC has been high in Tachileik, Chin Shwe Ho, Kan Paik Tee, Tamu and Mawtaung during this fiscal year.

- Advertisment -

Must Read

Govt to provide social welfare pension to senior citizens over 85...

The Ministry of Social Welfare, Relief and Resettlement has invited senior citizens over 85 years of age to apply for financial assistance.  This program aims...