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Illegal trade takes a heavy toll on country’s economy

Smuggling and illegal trade continue to be a major problems for the country’s economy, says the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). According to the Business Sentiment Survey issued by UMFCCI in May, illegal trade stands at sixth among the top 10 issues hampering the country’s economy. The survey was […]

Myanmar Ranks Near Bottom of Global Illegal Trade Index

YANGON—Myanmar urgently needs to combat illicit trade, particularly in the areas of logging, mining, human trafficking and consumer goods, the Transnational Alliance to Combat Illicit Trade (TRACIT) said after the country placed near the bottom of a global index on illicit trade. Myanmar ranked 82nd out of 84 countries—followed only by Iraq and Libya—in the […]