Myanmar to launch trade information portal

Myanmar is planning to launch a National Trade Portal by the end of this year, aimed at boosting transparency in policies and practices affecting the movement of goods across borders, official media reported Saturday.

The move was prompted by the Myanmar Ministry of Commerce at a public event on Myanmar's first WTO trade policy review in Yangon Friday, said the Global New Light of Myanmar.

In partnership with USAID, a website that will feature all trade-related information beginning from the MFN rate to tariff and non-tariff measures related to importation and exportation of commodities.

Upon completion, the National Trade Policy will link to the country's National Single Window that will link to the ASEAN Single Window.

Myanmar's trade facilitation portal will be a single authoritative source of all laws, regulations, and procedures for traders and government agencies involved in the import and export of goods.

The first WTO Trade Policy Review of Myanmar under the framework of the Trade Policy Review Body (TPRB) was undertaken in March 2014.

According to official statistics, Myanmar registered a trade deficit of nearly four billion U.S. dollars in the first nine months (April to December) of the 2014-15 fiscal year.

With its total foreign trade amounting to 20.9 billion U.S. dollars during the period, its export stood at 8.6 billion U.S. dollars while its import took 12.3 billion U.S. dollars.

Myanmar mostly exports agricultural produce, animal by-products, fishery products, mine and forest products while it imports consumer products, raw materials and investment goods. Endi