Since the army seized power on February 1st the rubber trade has stopped in Mon and Karen States.

The current political instability has resulted in the stoppage of all banking services, thereby contributing to the suspension of many rubber wholesale centers in Mon and Karen States.

Similarly, almost all trading has stopped due to the closing of banks and the blockage of motor roads at Muse 105th mile border trade route.

Shwe Myay Aung rubber trading center in Kawkareik of Karen State said: “As rubber trading has to network with banking services, rubber trading has stopped for over one week due to the lack of money in circulation. We are in big trouble. I no longer buy new rubber sheets. Our income has been crippled.”

There are nearly 40 rubber buying centers in Mon State. Currently, some rubber buying centers have suspended their operations due to the difficulty in the settlement.

An owner of rubber buying center in Thanbyuzayat Township said:  We have only a few buyers for rubber. I will stop my business if the situation gets worse.”

The authorities directed the private banks to run their services with the help of security members on February 15. The majority of private banks have closed till date as banking staff join the Civil Disobedience Movement (CDM).

Due to the COVID-19 pandemic, the majority of businesses including hotel and tourism, manufacturing and transportation sectors are facing difficulties. The military coup has hardly hit the local businesses including foreign investments.

Similarly, almost all trading has stopped due to the closing of banks and the blockage of motor roads at Muse 105th mile border trade route.