High hopes for business zone on China-Myanmar border

An ambitious new economic zone at Myanmar’s largest trading point with China will bring new business opportunities for the two countries, officials and residents said at the project’s soft opening in Shan State’s Muse last week. Around 80 percent of Myanmar’s formal overland trade with China passes through a border point a few miles from […]

US sanctions force jade into a corner, say traders

Jade traders say US sanctions have forced them to rely on Chinese investors and buyers, who dodge taxes and operate with little to no transparency. If Washington were to remove sanctions, they say, it would speed up reform in the troubled sector. Since the US banned imports of gems and jade in 2003, China has […]

Red tape cut allows exporters to skip on taxes

The Ministry of Commerce has cut red tape on exports, but some unscrupulous exporters are taking advantage of eased restrictions to avoid taxes, officials say. Exporters were previously required in some instances to show proof that foreign buyers had deposited money in foreign accounts to pay for the goods they were purchasing. However, Myanmar traders […]

Pulse of the future: pilot trading program begins

Beans and pulses traders have begun a pilot program selling futures contracts, as business leaders look to develop a futures market for commodities in the country. Currently most agricultural commodities in Myanmar are sold “on the spot” for immediate delivery, but introducing futures contracts means an agreement to sell a commodity would come on one […]