On December 1, India ended long-standing rules allowing border trade to be settled by an exchange of goods up to the value of US$20,000, including beans and pulses, spices, bamboo, forest products excluding teak, tobacco, and other commodities.
The move has had the effect of choking off trade, said an official of the Tamu Border Trade Chamber of Commerce yesterday.
Though November trade exceeded the target by 120 percent, December trade reached only 70pc of the target and so far in January the figure is only 35pc. One dealer said, “Since the change, official trades have become rare.” (Courtesy of Myanmar Times)
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