Myanmar designates priority sectors for national export strategy

The Myanmar authorities have designated seven priority sectors for implementing National Export Strategy (NES) which is an important step towards the export led growth model in this southeast Asian nation. The targeted sectors include rice, pulses, beans and oilseed crops, fish and crustaceans, textiles and garments, rubber, and tourist, said the Daily Eleven quoting a national consultant of NES The Five-year NES is mainly designed for the significant development of Myanmar's important export sector, the report said. There are four phases in the NES -- pre-engagement phase, inspection phase, design phase and implementation phase. According to the Central Statistical Organization, Myanmar suffered a trade deficit of 2307.73 million U.S.dollars in the first 11 months (April-February) of the fiscal year 2013-14. During the period, foreign trade totaled 22,757.97 million dollars, with export amounting to 10,225.12 million dollars and import standing at 12,532.85 million dollars, CSO's statistics showed. In February alone, foreign trade amounted to 1961.21 million dollars. In a breakdown, export stood at 673.37 million dollars while import was 1287.84 million dollars.