The Ministry of Commerce held a coordination meeting virtually in Nay Pyi Taw yesterday morning, with focus on the promotion of trade for broader market by producing value-added products which have competitive norms in terms of value and quality.
In his remark, Union Minister Dr Than Myint said the ministry is making for the development of trade volume and national interests. Although the foreign trade deficit showed US$5.5billion in 2015-2016FY, the trade deficit now reduces by $1.4billion in 2019-2020FY due to the efforts of ministry.
The Union Minister also discussed preparations and arrangements to increase the trade volume as it might face some impacts of COVID-19 in 2020-2021 even though it can suppose that sector has less COIVD-19 impact, CERP, fully online system for import/export licences, the reduced licence fees and Myanmar TradeNet 2.0 including work plans for the development of SEZs and appointment of 15 Economic Counsellors in 12 foreign countries to uplift the trade sector and bilateral cooperation with the trading partners.
He continued saying that it needs to make efforts to increase the exports by complying with the State’s economic policies, to gain broader market without relying on a single market, as well as to produce value-added products which are competitive in price and quality.
Then, the Deputy Minister discussed the use of the internet and online system for the growth in trade, capacity building training, organizing of consumer protection committees, procurement of emergency reserve rice, purchasing of paddy for the interest of farmers, National Export Strategy, the establishment of Help Desk and International Trade Centre, enactment of the law for international trade and establishment of a market-oriented economic system with the help of private sectors.
The Permanent Secretary, the Directors-General of the relevant departments and the heads of border trade camps respectively presented the work plans, and the Union Minister concluded the meeting.—MNA
(Translated by Khine Thazin Han)
