YANGON, January
12 (Xinhuanet) -- Lieutenant-General Khin Nyunt, first secretary of the
Myanmar State Peace and Development Council has disclosed that the country's
trade sector contributes 23.9 percent of its Gross Domestic Products
(GDP). Khin Nyunt made the remarks at a work coordination
meeting of the Myanmar Ministry of Commerce here Friday afternoon, official
newspaper The New Light of Myanmar reported Saturday.
Measures are being taken to improve the trade sector so that the
contribution of the trade sector to GDP can grow by 11.9 percent during the
present five-year plan period and up to 24.5 percent in the 2005-2006
financial year, the last year of the plan, he said. In six
nations out of ASEAN members, the system concerning the ASEAN Free Trade
Area (AFTA) has been introduced, he added, disclosing that by 2006, Myanmar
will integrate itself into AFTA and reduce customs duties in the trade
sector among ASEAN members. According to the statistics of the
Ministry of Commerce, the Myanmar's foreign trade volume in 1998-1999 fiscal
year was over 3, 700 million U.S. dollars. The foreign trade volume during
the period of nine months at the end of the third quarter of the fiscal
2001-2002 was over 4,200 million dollars. Enditem |