October 22: Myanmar’s total foreign trade is expected to reach US$7 billion (euro5.6 billion) in the current 2006-2007 fiscal year, an increase of about 27 percent compared to the previous year, state-run media said Sunday.

Speaking Saturday at a meeting with businessmen at the new administrative capital Naypyidaw, Prime Minister Gen. Soe Win said Myanmar’s trade volume has increased since 2002-2003.

According to recent official statistics, trade for 2005-2006 totaled US$5.54 billion (euro4.4 billion) compared to US$4.83 billion the previous year, and the country saw a trade surplus of US$1.6 billion (euro1.3 billion).

Myanmar’s financial year begins on April 1, and ends March 31.

Soe Win said the government has created better opportunities for trade development and adopted international practices to improve the trading system, the official New Light of Myanmar newspaper said.

He also warned businessmen to refrain from bribing corrupt officials, and to carry out business dealings not only for their own ends but also in the country’s interest.