Border trade value using Individual Trading Card reaches over US$6.6 billion

The value of trade using the Individual Trading Card (ITC) as of 25th November in this fiscal year 2016-2017 reached over US$6.6 billion, about US$200million higher than that of last fiscal year, according to the Commerce Ministry.

During the last fiscal year, the value of trade with ITC at the border gates was over US$6.4billion. The value of export using ITC was over US$600million whereas import value under ITC amounted to over US$6,000 million, according to the statistics released by the Commerce Ministry.

The trade department under the Commerce Ministry has already issued 136 cards in this fiscal year and trading with ITC is seen in Tamu, Muse, Myawady, Tachilek, Kan Pike Tee, Kawthaung, Reed, Maw Taung and Keng Tung border trade camps. Myawady trade camp is reported to have the largest trade value of Ks2.3billion using ITC whereas trading with ITC attains Ks1.3billion at Kan Pike Tee.

Trading with ITC began in 2012 and the ITC is valid for one year.

The trade department issued nearly 300 cards in 2012- 2013 fiscal year whereas there were around 150 individual trading cards last fiscal year. Over 160 export items and 240 import items are permitted to trade with the use of ITC.

Source: Global New Light of Myanmar

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