Illegal Trade Eradication: Steering Committee coordinates efforts to combat illicit activities

Illegal Trade Eradication Steering Committee held its work coordination meeting at the Ministry of Commerce in Nay Pyi Taw on Thursday.

Chairman of the Steering Committee Vice Chairman of the State Administration Council Deputy Prime Minister Vice Senior General Soe Win attended the meeting and made a speech. During his speech, Vice Senior General Soe Win highlighted that over 192 billion kyats worth of illicit goods confiscated from 9,985 cases between January 2022 and November 2023.

Emphasizing the global priority placed on eradicating illegal trade due to its potential impact on macroeconomic stability, he stressed the need for Myanmar to focus on promoting the export of value-added products to enhance state income. The Vice Senior General highlighted the adverse effects of illegal trade on government revenue, the banking system, and foreign currency exchange rates.

He also noted its potential impacts on market competitiveness, foreign investment, consumer safety, and the overall production and trading processes within the country. To address these challenges, he called for increased collaboration among union-level ministries, regional/state governments, and the establishment of international networks for information exchange in the fight against illegal trade.

During the meeting, the committee's Secretary and officials reported on their ongoing efforts, followed by a general round of discussion. The draft minutes of the Steering Committee Meeting (6/2023) were presented and discussed. In response to the reports, Vice Senior General Soe Win coordinated the needs and provided concluding remarks.