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National export strategy to be made public in Myanmar

Xinhua, May 4, 2015 Adjust font size:

Myanmar is expected to make public its national export strategy in a month, aiming at attracting new markets and eliminating trade barriers in the country, sources with the Ministry of Commerce said on Monday.

The strategy listed six major categories of export items including rice, beans and pulses and sesame; fishery products; clothing; wood and wood products and rubber.

The ministry is working to complete value-added export law within 2015 while focusing on the lifting of economic sanctions by foreign countries.

According to official statistics, Myanmar registered a trade deficit of 4.9 billion U.S. dollars in fiscal 2014-15 (April 1- March 31), following one of 2.652 billion U.S. dollars in fiscal 2013-14.

Total foreign trade in the fiscal year amounted to 27.79 billion U.S. dollars, with export standing at 11.45 billion U.S. dollars and import reaching 16.34 billion U.S. dollars.

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