Illegal border imports threatening SMEs

26 August 2019
Illegal border imports threatening SMEs
Vice President U Myint Swe holds 29th regular meeting with businesspersons in Yangon. Photo: MOI

Myanmar has exposed illegal import worth of 12.99 billion kyats (8.65 million U.S. dollars) from September 2018 to July 2019, Xinhua reported quoting the Private Sector Development Committee (PSDC).

The exposure was made following the formation of Illegal Trade Control and Prevention Groups by the PSDC, led by Myanmar Vice President U Myint Swe.

Warning at a meeting with business persons in Yangon on Saturday, U Myint Swe said illegal import through the border was threatening the existence of small and medium enterprises and in order to increase cooperation between union level departments to reduce the rising global illicit trade environment index due to illegal trade, the Illegal Trade Eradication Steering Committee was also formed to effectively eradicate such illegal trade countrywide.