Govt committed to ending illegal trade: Kyaw Win


YANGON — Union Finance Minister U Kyaw Win said Friday the government was committed to take action on black market trade to protect the viability of private sector businesses in the country.

Speaking at the Union of Myanmar Federation of Chambers of Commerce and Industry’s regular meeting of Union ministers and business leaders, Kyaw Win said the government would work to reduce red tape introduce new policies to reduce corruption and bribery in cross-border trade.

“Illegal trade causes great hindrances to both businesspeople and the country,” he said, adding that lost revenue from black market trade was responsible for a significant loss in tax revenue.

“If we don’t take sharp action against people working illegally, the transformation in this country cannot be achieved.”

Support more independent journalism like this. Sign up to be a Frontier member.

Black market trade is rampant in the national economy, from the unlicensed importation of pharmaceuticals and automobiles into Myanmar’s urban centres to the illicit export of timber and precious stones in the country’s border areas.

Commerce Minister U Than Myint told Union lawmakers in August planned to computerise Customs Department systems on popular overland trade routes in order to detect illegally-traded goods.

Speaking Friday, Kyaw Win said the government also planned to work with both the Tatmadaw and non-state armed groups in order to crack down on illegal cross-border trade.

More stories

Latest Issue

Stories in this issue
Myanmar enters 2021 with more friends than foes
The early delivery of vaccines is one of the many boons of the country’s geopolitics, but to really take advantage, Myanmar must bury the legacy of its isolationist past.
Will the Kayin BGF go quietly?
The Kayin State Border Guard Force has come under intense pressure from the Tatmadaw over its extensive, controversial business interests and there’s concern the ultimatum could trigger fresh hostilities in one of the country’s most war-torn areas.

Support our independent journalism and get exclusive behind-the-scenes content and analysis

Stay on top of Myanmar current affairs with our Daily Briefing and Media Monitor newsletters.

Sign up for our Frontier Fridays newsletter. It’s a free weekly round-up featuring the most important events shaping Myanmar