Trade Website Eyes Linking Local Businesses with Overseas

The Department of Trade Promotion is set to launch a website to share information and market data, according to Daw Thidar Win Htay, assistant general manager of the department.

“The website will facilitate local businesses in linking with overseas markets while posting regulations, policy changes and market information. As trade centres are also being developed [in states and regions], the website will create a network for these local headquarters,” she said.

The Department of Trade Promotion is also working together with various partners including World Trade Organization (WTO) and the Enhanced Integrated Framework (EIF) to finalise preparing the National Export Strategy and National Trade Facilitation Implementation Plan.

EIF has been implementing the EIF programme since April 2013 with the projected expenditure of $1.5 to $3 million as part of a wider project to uplift economies of LDCs (least developed countries).

According to the Ministry of Commerce, Myanmar saw $9.24 billion exports and $13.21 billion imports in the current fiscal year by the end of January leading to a trade deficit of nearly $4 billion.

Source: Myanmar Business Today

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