Economic opportunities in Rakhine State

Rakhine State is rich in natural resources. It has many rivers, lakes, ponds and is connected to the ocean. Good ports exist and as improvement to road links are being made, trade, local and foreign investments are increasing. The government is emphasizing on investment and trade in order to increase production in agriculture products as […]

Myanma Timber Enterprise to Respond to Danish Teak Sanctions

​​ Danish authorities have made a ruling to place injunctions on all seven Danish operators bringing Myanmar teak into the Scandinavian country. Myanma Timber Enterprise (MTE) has plans to respond to the sanctions placed on the entire Myanmar teak industry, according to U Khin Maung Kyi, deputy general manager (extraction) of MTE. “We will somehow […]

Mon State to Sign Agreement With EU on Forest Products Trading

​​ The Mon state gov­ernment has said it will sign a memo­randum of understanding with the European Union on the legal trading of forest products, the My­anmar News Agency re­ported. The southern state gov­ernment will comply with Forest Law Enforcement, Governance and Trade (FLEGT), under which Myanmar and EU mem­bers are to be engaged only […]

Finance and Bank Officials Keen to Limit Trade Deficit

​​ Top economic officials have met with the Central Bank to discuss ways to limit imports in a bid to reduce the country’s trade deficit. Officials from the Ministry of Planning and Finance, the Ministry of Economy, Trade and Industry attended the meeting. The departments discussed ways to promote exports, limit imports, and to increase […]

External trade value reaches US$17billion, over US$2700million in trade deficit

External trade value as of 2nd December in this fiscal year 2016- 2017 totaled US$17,521.102million, with US$2,792.774million in trade deficit, according to the Commerce Ministry. In the similar period of last fiscal year, the external trade value was US$18,209.307million with a trade deficit of US$3,888.887million. The trade value this year slumped by US$688.250million when compared […]

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. […]

Mizuho Bank and MAX Myanmar inked an MoU for business cooperation

Mizuho Bank and Max Myanmar Holdings signed a memorandum of understanding (MoU) for business cooperation with an aim at facilitating foreign direct investment (FDI) in Myanmar by Japanese companies. Mizuho Bank will be the first Japanese bank to sign an MoU with Max Myanmar. Mizuho has been supporting Japanese companies entering Myanmar. It opened a […]

Myanmar forest-cutting continues despite government efforts

PINLEBU, Myanmar (AP) — The hills of northern Myanmar’s Sagaing region were so legendarily thick with forests that in the days of kings, condemned criminals were ordered into the woods as a death sentence. Today illegal logging has left vast swaths of bare patches, with only a handful of old-growth stands. Despite a temporary ban […]

Myanmar records trade deficit for four years in succession

A TRADE deficit has been reported in Myanmar for four years in succession as the value of exports fell more than the value of imports, according to an official from the Ministry of Commerce. The country remains locked into a trade deficit this fiscal year, said Director U Win Myint of the ministry. Myanmar has […]

India setting up 9 border trade points with Myanmar

Keen to boost border trade between Northeast India and the neighbouring Southeast Asian countries, the Indian government is setting up nine border haats or markets along the border with Myanmar, a top official said on Wednesday. Addressing the inauguration of the Eighth Delhi Dialogue here, Anil Wadhwa, Secretary (East) in the Ministry of External Affairs […]