Illegal trade harms rubber industry in Myanmar
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Hsu/ Yoon (NP News) – June 27
According to the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the rubber industry is negatively affected due to illegal trading.
The Chairman of the UMFCCI Aye Win said it during his meeting with the rubber exporters groups on 26th June.
The rubber industry is one of the major foreign income-generating sectors based on agriculture. The industry is also a labor-intensive industry. Hence, the industry is important for creating job opportunities.
The UMFCCI chairman suggested the national level conference for development in rubber plantation and rubber export in order to enhance the importance of the rubber industry.
According to the Ministry of Commerce, for this fiscal year, about 18000 tons of rubber which are more than 22 million USD worth was exported to foreign countries.
Myanmar’s rubber is being mainly exported to China, India, Thailand, Malaysia, Indonesia, Singapore, South Korea, and Taipei.