U Yan Naing Tun, Permanent Secretary of Ministry of Commerce highlighted the need for quality exports to compete in the global market

The permanent secretary of the Commerce Ministry has stressed the need to ensure good quality to be able to compete in the global market while efforts are being exerted to ensure a firm export market.

Permanent Secretary Yan Naing Tun was speaking to the media during a press briefing on trade affairs held at the ministry in Nay Pyi Taw on Thursday.

"We have a meeting with China in December to boost the export sector. We are trying to get a firm market. But we have to try and compete against international market in terms of quality. It is important for our products to be better in quality. In this context, it is also necessary to reduce production cost," said the permanent secretary.

Trade value in the previous fiscal year reached US$33.544 billion—US$14.858 billion in export and US$18.686 billion in import. Trade value in six months from April to September this year reached US$18.347 billion—US$8.512 billion in export and US$9.340 billion in import.

In export, marine trade accounts for 77 percent and border trade 23 percent. Muse (105th) border trade camp plays a key role in border trade accounting for 70 percent of all other border trade camps.

Myanmar has 184 trader partner countries. The largest trade partner is China, followed by Thailand, Singapore, Japan, India, the Philippines, Malaysia, Indonesia, the US and Vietnam.  

Private sector plays a major role in Myanmar's trade activities, accounting for 75 percent in export and over 90 percent in import.

The permanent secretary said  the private sector was crucial for the country's trade sector as the state sector accounts for about 15 percent while the private sector accounts for 85 percent.  

(Eleven Media Group: https://elevenmyanmar.com/news/permanent-secretary-highlights-need-for-quality-exports-to-compete-in-the-global-market )

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