Goods flow in Myawady border checkpoint show a good sign for business

Goods flow in Myawady border checkpoint show a good sign for business

Published on Friday, 19 April 2013 23:48

Trucks loaded with goods seen on Friendship Bridge in Myanmar-Thailand border (Photo-Shwe Thein)

Myawady border checkpoint, one of major crossing points between Thailand and Myanmar, has collected 8673 million kyats from the start of this fiscal year until the end of February 2013, according to official record.

It was the highest amount earned in 16 years time after the trade zone is opened in 1997, according to the sources.

Thai-Myanmar border trade is the second largest border trade after China-Myanmar border trade in Myanmar.

Although illegal trading is up due to many reasons, the official trade is increased more 5 times than initial estimate.

"The small traders do business legally this year in addition to local companies and companies based in Yangon. Their imports are higher than last year. If the expenses are reduced compared with legal goods and illegal goods, the legal trade will be up," an official from Myawady border checkpoint said.

The tax on the goods will be reduced to duty tax free with years according to the treaties between Asean countries and the tax will reduce to 93% in 2015 and 100% in 2018.

The traders expected the trading tax to reduce to fewer than 5% in border trade.

Source: http://www.news.myanmaronlinecentre.com/2013/04/20/goods-flow-in-myawady-border-checkpoint-show-a-good-sign-for-business/