YANGON, Aug. 25 (Xinhua) -- Myanmar's Vice President U Myint Swe has called for efforts to promote export and manage import regulation for trade balance in the country, the official Global New Light of Myanmar reported Saturday.

The vice president stressed the need to boost export of marketable domestic goods and reduce import of goods excluding essential commodities at a Friday meeting between the private sector development committee and entrepreneurs.

U Myint Swe called for joined efforts with local small-and-medium enterprises for import substitution and imports of goods under regulations to see trade balance in the country.

Private sector takes up over 80 percent of Myanmar's total trade value.

According to official figures, the country's total foreign trade has reached 13 billion U.S. dollars, of which the private sector accounted for 85.47 percent as of Aug. 10.