Written by Admin on August 29, 2013. Posted in Business, News, Top Stories
Myanmar is losing a huge amount of revenue due to illegal trade that takes advantages of a series of relaxation by the government, the state-media reported, citing commerce minister Win Myint.
The minister made the comment in Tuesday meeting of central committee against illegal trade.
He said the government had made a series of relaxations to promote trade which were exploited by the dishonest merchants.
It undermines the competitiveness in the local market and affect the merchants, the minister added.
According to government figures, 80 percent of trading activities take place through marine route.
The education period during which serious actions would not imposed on illegal trade charges but warnings would expire by the end of this month.
Myanmar has targeted the trade volume of 25 billion in Kyat (1 USD is approximate to 950 Kyats) for this year, a 30-percent increase than the previous year's trade volume.
http://www.information.myanmaronlinecentre.com/illegal-trade-costs-myanmar-huge-revenue/
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