Tax-free markets will emerge along Myanmar and India border area aimed at developing border regions and alleviating poverty, official media reported Thursday.
A preliminary agreement has reached between Chin State government and India to open tax-free markets, said the New Light of Myanmar.
Tax-free markets will be opened in nine places at border regions between the two countries.
More markets will be opened in five places in Chin state sharing border with India.
The tax-free markets in border areas will allow the merchants to trade 40 items of commodities and these markets will be opened in open season.
According to the Border Trade Department’s statistics, Myanmar and India trade volume scores 1 billion U.S. dollars yearly. A plan was set to raise 2 billion U.S. dollars of trade volume between the two countries.