Myanmar taps Israeli expertise in agriculture

ISRAELI expertise and technologies in agriculture are supporting Myanmar’s efforts in reforming its vast agriculture sector, while the recently enforced investment protection agreement is expected to boost inward investments for Myanmar in the long run. Following the signing of an agreement for Reciprocal Promotion and Protecting of Investments between the two countries in October 2014, […]

Car import permits down 60pc in 2017-18

Applications for the import of passenger vehicle is down by more than 5,000 so far this fiscal year compared to the same period in the previous fiscal year, said U Aung Htoo, deputy minister for Ministry of Commerce. The government has been trying to limit the import of cars to control traffic congestion in the […]

Myanmar records trade deficit of over $2 billion in past seven months

The Commerce Ministry recorded a trade gap of over US$2 billion in the first seven months of the year, falling by over 700 million compared with the same period last year. The export value between April and October 21 this year was $6,210.023 while the import value surpassed $2.06 billion, whereas the country’s import value […]

EU-Myanmar development program to support Myanmar’s return to global trade market

The European Union-Myanmar Trade Development Program was launched on Tuesday to facilitate Myanmar’ s return to the global trade market. The introduction of the three-year technical plan will help both the public and private sectors to seize new trading opportunities and generate sustainable and inclusive economic growth in Myanmar. With a budget of 10.5 million […]

Myanmar’s trade deficit jumps 88%

Myanmar’s trade deficit jumped 88% in the fiscal year that ended on March 31, driven by rapid economic expansion in the formerly military-ruled country, state media and a Commerce Ministry official said today. Myanmar’s economy was held back by mismanagement, corruption and the refusal of Western countries to trade and invest because of human rights […]

Trade deficit to rise but inflation the concern

The trade deficit will reach K4 trillion (US$3.9 billion) by the end of next financial year, says Minister for National Planning and Economic Development U Kan Zaw. Inflation is also pegged to average 6.83 percent in 2015-16 compared year-on-year, though could rise as high as 8.11pc by March 2016, he added. U Kan Zaw revealed […]

Trade deficit sees ‘record high’ at US$ 2.65 Bn

Myanmar’s trade deficit has seen a new record high at US$ 2.65 billion because of stronger imports in the recent fiscal year 2013-14, according to the Ministry of Commerce. The statistics show a several-time increase of the trade deficit since 2012-13, which was just over US$ 91 million. Nevertheless, the total trade volume rose from […]