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Export, import to operate as usual during public holidays

The State Administration Council has declared the public holidays from 17 to 25 July in order to conduct COVID-19 prevention, control and treatment activities effectively. During these public holidays, the Customs Department will continue offering services for the importation of medicine and medical equipment for COVID-19 treatment via sea, air and land borders, according to the department.

Myanma Port Authority and jetties will also keep running their operations not to occur delays in international trade flows. The allocation of berth for vessels will be made every other day starting 18 July. The Delivery Order (DO) will be granted on 20 and 22 July, and the people can contact the respective Shipping Agency Department, if necessary, said Myanma Port Authority.

The border trade camps will operate the import and export procedures as usual without suspending the operations during these public holidays. The Ministry of Commerce cooperates with the department concerned to facilitate the importation of COVID-19 preventive gears and other medical supplies in line with the SOP, according to the ministry.

Source: The Global New Light of Myanmar

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Import of Oxygen Concentrators will be reduced by 5% commercial tax, import by air and sea will be allowed with SO and will be done as soon as possible from the border

Import of Oxygen Concentrators will be reduced by 5% commercial tax. According to the Ministry of Commerce, air imports will be allowed with SO and the border will be imported as soon as possible. Import of COVID-19 Preventive Drugs and Related Products Airlines The Ministry of Economy and Trade is coordinating with the line ministries to ensure the smooth import of medicines through the border routes, and medicines and related items are entering the country on a daily basis. Disposable mouthwash The FDA does not require non-medical use of nasal masks. The import of oxygen concentrators will be reduced by 5% (CT). 

Import by air will be allowed by SO. Imports from the border will be processed as soon as possible. Liquid Oxygen will be allowed to be imported from the border in accordance with the temporary import procedures of the Customs Procedures if the vehicles carrying Liquid Oxygen are imported with Rigid Body. Electricity approval will be required for the construction of Oxygen Plan. If it is built within an industrial zone, it will need an industrial zone approval. Companies wishing to import other vaccines, including the COVID-19 vaccine, must submit a seven-point application to the FDA.

The COVID-19 vaccine storage and distribution plan must also be submitted. The Risk Communication Management Plan must be submitted in advance regarding the upcoming COVID-19 vaccine. On July 12, 2021, the application for the Face Mask, Oxygen tank The import of oxygen machines was allowed as soon as possible. COVID-19 Prevention and Control Drugs; The Ministry of Commerce has announced that medical equipment and liquid oxygen will be allowed to be imported for three months without having to apply for an import license from July 12.

Currently, COVID-19 is spreading rapidly as a third wave, and the Ministry of Commerce and Industry has announced that all import and export licenses of COVID-19 immunization drugs and medicines must be applied for by July 12, 2021 to support the COVID-19 treatment process. On July 12, 27,200 kilograms of masks were imported at the Myawaddy border trade. 200 liters of oxygen, 200 liters; 25 pairs of Oxygen Concentrator (10 L); It was allowed to be imported immediately after the same day. Today, all applications are being granted immediately, and the Commerce / Commerce Department will announce the import of all Kovis accessories at 4 pm daily. There is no waiting because you are not allowed to import. Officials say it is not closed.

Source: Daily Eleven

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To prevent and control the infection of COVID-19, a public holiday is declared from July 17 to July 25

The State Administration Council issued Notification No. (211/2021) on (July 14) as a long public holiday from July 17 to July 25, 2021. The statement said the State Administration Council should work to prevent the spread of COVID-19 virus. July 20 and July 22 are considered as two public holidays, which are related to public holidays for control treatment.

In addition, on July 17, 2021, July 18 and July 19 (Saturday, Sunday and Martyrs’ Day) and July 21 is Eid al-Adha (Kurbani Eid). July 24 and July 25 (public holidays of Waso and Saturday and Sunday) are public holidays, the statement said. Therefore, COVID-19 infection can be effectively prevented and treated. Control The State Administration Council has declared between 20 July and 22 July as public holidays for treatment, and the State Administration Council has declared in accordance with Section 25 of the Contracts Act, which can be transferred from July 17 to July 25 as a long public holiday.

During the holidays, for effective prevention of the spread of COVID-19, the public should live in their own homes or dormitories and not travel except for duties and funerals, only shops selling meat, fish and basic foodstuffs and drinking water should be opened, to continue to provide health care services for restaurants to sell medicine and medical equipment by parcel system only, government hospitals, private hospitals and clinics; if you have to leave your home, necessary preventive measures, including nasal masks, must be worn and failure to strictly comply with the terms and conditions issued by COVID-19 will result in disciplinary action in accordance with existing laws.

Source: Daily Eleven

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Myanmar-Thailand border trade down by $61.49 mln as of 2 July

The value of Myanmar’s bilateral trade with the neighbouring country Thailand through land border has registered a decrease of US$61.49 million between 1 October and 2 July of the current financial year 2020-2021 as against a year-ago period, the statistics issued by the Ministry of Commerce indicated. The ministry reported that exports surpassed imports in trade with Thailand this year, with exports reaching over $2.2 billion and imports valued at over $971 million, totalling $3.179 billion. During the corresponding period of the past FY2019-2020, Myanmar-Thailand border trade touched a high of $3.241 billion. Following the COVID surge in Myanmar, some border posts are temporarily restricted, and at present, fruits and agricultural products such as cucumber, mango, tomato and vegetable, fishery products, building materials and other pharmaceutical-related goods and equipment can be traded.

During the last FY, Myanmar has increasingly exported corns to Thailand through the Myawady border. Myanmar’s corn exports to Thailand significantly soared to over 1.2 million tonnes through border posts between Myanmar and Thailand during the October and May period in the FY2019-2020, an official of the Ministry of Commerce said. There are seven border posts between Myanmar and Thailand, Tachilek, Myawady, Kawthoung, Hteekhee, Myeik, Mawtaung and Maisai. Except for Tachilek and Myawady, the remaining border posts showed a decrease in the trade this FY. The value of border trade stood at $204 million via Tachilek, $1.35 billion via Myawady, $245 million via Kawthoung, $95.79 million via Myeik, $1.2 billion via Hteekhee and $12.3 million via Mawtaung.

Maisai border post has not witnessed any trade yet. At present, Myanmar exports corn to Thailand through Myawady and Tachilek land border. Only Tachilek and Myawady showed an increase in trade, while the remaining indicated a drop in trade as against last year. Additionally, exports of natural gas from the Taninthayi Region contributed to the enormous increase in border trade with Thailand in the previous years. This year, gas exports via the Hteekhee border drastically fell. Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, and bamboo shoots to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, consumer goods such as cosmetics and food products from the neighbouring country. 

Source: The Global New Light of Myanmar

Kyat value increases by K20 within week

The value of Kyat against a US dollar rose by K20 within a week (7-13 July) in the local for ex market. A dollar is worth K1,660 on 7 July, whereas the rate dipped to K1,635 on 13 July. The Central Bank of Myanmar (CBM) has sold 15 million dollars so far this month to control the value of the currency. Consequently, the Kyat value slightly increases in the local for ex market. The CBM sold 12 million dollars at an auction market in June as well. The bullish hard currency gained in the local for ex market, reaching the peak of K1,730 on 12 May from K1,330 in January-end.

In a bid to control the sharp daily gains of the US dollar in the local market, the CBM reportedly sold $24 million in May. Consequently, the exchange rate slightly fell to K1,580 in May. Nevertheless, it touches a high of above K1,600 for now. The CBM trades the foreign currency with the authorized private banks under the rules and regulations of the FX auction market. The local for ex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest of K1,420 and the highest of K1,550 in March. The rate fluctuated between K1,550 and K1,610 in April.

The rate fluctuated between K1,585 and K1,730 in May and it moved to the maximum of K1,595-1,620 last month. In 2020, the exchange rate moved in the range of K1,465- 1,493 in January, K1,436-1,465 in February, K1,320-1,445 in March, K1,395-1,440 in April, K1,406-1,426 in May, K1,385-1,412 in June, K1,367-1,410 in July, K1,335-1,390 in August, K1,310- 1,355 in September, K1,282- 1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December. In 2019, the rates are pegged at K1,508-1,517 in July, K1,510-1,526 in August, K1,527- 1,565 in September, K1,528- 1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December. On 20 September 2018, the dollar exchange rate hit an all time high of K1,650 in the local currency market.

Source: The Global New Light of Myanmar

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Sino-Myanmar border trade down by 17% amid COVID surge: MOC reports

As the COVID-19 infections are spiking in Myanmar, China has shut down all the border posts since 8 July. Consequently, the border trade plunges by 17 per cent against last year, as per the Ministry of Commerce’s data. Sino-Myanmar border trade was registered a low of US$3.85 billion between 1 October and 2 July in the current financial year 2020-2021 amid the political instability and the COVID-19 surging. According to the Ministry of Commerce, the figures plummeted from $4.63 billion recorded in the year-ago period. As of 2 July 2021, Myanmar’s exports to China through land border were valued at $2.6 billion, while imports are worth $1.2 billion.

The Sino-Myanmar border trade showed a slump in both exports and imports. On 30 March, Man Wein, which is a major border crossing between Muse and Kyalgaung areas, was suspended owing to the COVID-19 cases. The traders have to send goods, including rice and broken rice, various pulses and beans, fishery products, onion, chilli and other export items to China via the Kyinsankyawt checkpoint due to the closure of the Man Wein checkpoint. Following up on the COVID-19 detection of the staff from Muse 105th mile trade zone, China closed down all the border posts. Wan Ding, Kyinsankyawt and Pan Hseng (Kyukoke) border posts came to an abrupt halt on 8 July.

In a bid to contain the spread of coronavirus on the border, China banned border crossing, causing the price hike for the agricultural input, cement and medical devices. This FY, border trade values totalled $2.948 billion through Muse border, $206.9 million via Lweje, $424.6 million via Chinshwehaw, $267.6 million via Kampaiti, and over $10 million via Kengtung. The Commerce Ministry’s data showed a drastic drop in the Muse border. Earlier, China practised a driver substitution programme, and those drivers were tested every three days. Myanmar exports agricultural products including rice, beans and corns, and fishery products such as crab, prawn, and others. Furthermore, Myanmar’s natural gas export to China is also conducted through the Muse-Ruili border. The raw CMP materials, electrical appliances and consumer goods are imported into the country.

Source: The Global New Light of Myanmar

Natural gas export tops US$1.32 bln in seven months from Oct to Apr

Myanmar’s exports of natural gas in the seven months (Oct-Apr) of the current financial year 2020-2021 exceeded US$1.32 billion, the Commerce Ministry’s data showed. The figures indicated a sharp drop of over $880 million compared to the year-ago period. Natural gas is included in the list of major export items of Myanmar. About six per cent of the country’s total export earnings come from the sales of natural gas. There are 53 onshore blocks and 51 offshore blocks, totalling 104 blocks.

A total of 25 onshore blocks and 31 offshore blocks are under operation with the foreign investment. Natural gas extraction is being made at the Yadana, the Yedagun, the Shwe, and the Zawtika offshore blocks as well as onshore drilling blocks. Yearly extraction is elevated to cubic feet in 670.36 billion from 600 billion last year, according to the statement of the Ministry of Electricity and Energy. The Shwe natural gas field, located offshore from Rakhine State, was discovered in 2014. Natural gas extracted from the field is exported to China.

The Yadana natural gas project is being carried out by the TOTAL Company, with its pipeline supplying natural gas to Thailand. Natural gas is also extracted in Yedagun, located offshore from Taninthayi and discovered in 1992. The Zawtika Project in the Gulf of Mottama mainly supplies natural gas to neighboring Thailand. Production at Yadana and Yedagun is declining, and those projects will be halted in the coming years. Myanmar’s exports of natural gas stood at $3.5 billion in the 2019-2020 FY, $3.9 billion in the 2018-2019 FY, $3.5 billion in the 2017-2018 FY, $3.116 billion in the 2016-2017 FY, and $3.445 billion in the 2015-2016 FY, as per Commerce Ministry data.

Source: The Global New Light of Myanmar

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External trade dramatically plummets by $6 bln as of 2 July

Myanmar’s external trade between 1 October and 18 June in the current financial year 2020-2021 indicated a drastic plunge to US$22.6 billion, a sharp drop of over $6 billion compared with the corresponding period of the FY 2019-2020, according to the Ministry of Commerce. During the same period in the previous FY, the trade stood at $28.6 billion, according to data released by the ministry. Over the past nine months, Myanmar’s export was worth over $11.19 billion, which plunged from $13.6 billion registered a year-ago period. Meanwhile, the country’s import was valued $11.4 billion, showing a significant decrease of $3.6 billion compared with the last FY.

Both maritime trade and border trade dropped amid the coronavirus impacts. The neighbouring countries tightened the border security and the border posts came to abrupt stop amid the COVID-19 surging in Myanmar. At the present time, the traders have transaction problem triggered by the restriction of the private banks. Furthermore, the pandemic triggered the cargo shipping crisis, a market observer shared his opinion. Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods.

The country’s export sector relies much on the agricultural and manufacturing sectors. However, the suspended trade in the border checkpoints and the order cancel from the western countries amid the political changes exacerbate the export sector for now. The Ministry of Commerce is focusing on reducing trade deficit, export promotion and market diversification. The external trade stood at $36.73 billion in the 2019-2020 FY, $35.147 billion in the 2018-2019 FY, $18.728 billion in the 2018 six-month mini budget period, $33.578 billion in the 2017-2018 FY and $29.209 billion in the 2016-2017 FY respectively, as per the Commerce Ministry’s statistics.

Source: The Global New Light of Myanmar

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YGEA submit CBM to allow payment by telegraph transfer system for gold export and import transaction

Yangon Region Gold Entrepreneurs Association (YGEA) submitted a proposal to the Central Bank of Myanmar (CBM) to allow payment by telegraph transfer (TT) system for gold and jewellery export and import transaction, said U Myo Myint, chairman of YGEA. Regarding this matter, the CBM and YGEA’s executive committee had a meeting online on 9 July. Presently, the gold export has stopped after the international remittance for a gold transaction was changed from TT system to Letter of Credit (LC). When the traders export gold and jewellery, we used to offer both TT and LC systems. Later, the authorities allowed only the LC system for gold export. It took about 1 month to send the goods.

Then, the money will be transferred by LC system when the goods arrived there. Further, the prices will not be steady as well. The traders are convenient with the TT system because there is no delay. So, they have requested the CBM for the resumption of the previous payment system (TT). The Trade Department, the Ministry of Commerce issued the notification on 12 August 2020 that the transaction for gold and jewellery export and import can be done only with the LC system. Myanmar is placed on the Grey List by the Financial Action Task Force (FATF). This inter-governmental body sets anti-money laundering standards. Therefore, the country needs to monitor the gold and jewellery exports and imports in order to ensure there is no illegal income.

Thus, the payment method was changed to LC as per the notification of the trade department. With the use of LC, payment can take about two months, cost banking service changes by two sides, and increase the charges for security matters in transportation. Consequently, gold trading in the international market has halted due to the unstable international gold prices daily. Besides, more than 10,.000 domestic goldsmiths have lost their jobs due to the suspension of the gold exports. The domestic gold market might recover if the continuation of the TT system is allowed. Gold and other pieces of jewellery are primarily purchased by Japan and the Republic of Korea, and other tourists also buy them, according to the association.

Source: The Global New Light of Myanmar

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Myanmar pharmaceutical imports top $303.53 mln in seven months

The import value of Myanmar pharmaceutical products was estimated at US$303.53 million in the seven months (Oct-Apr) of the current financial year 2020-2021, according to Myanmar Customs Department. Myanmar imports 90 per cent of medicine and medical products through foreign markets, the Myanmar Chamber of Commerce for Pharmaceutical & Medical Device (MCCPMD) stated.

India is the main supplier for Myanmar. Also, it is imported by Bangladesh, China, Germany, Indonesia, Japan, Republic of Korea, Malaysia, Philippines, Singapore, China (Taipei), Thailand, US and Viet Nam. Trade has returned to normalcy after panic buying during the coronavirus pandemic. Most commonly prescribed drugs are available in the market. Only some are out of stock for now.

At present, pharmaceutical import is regularly flowing. However, the prices of pharmaceuticals were up by 5 to 10 per cent owing to the dollar gains. The COVID-19 related medical devices including surgical masks and pulse oximeters are highly demanded in the country amid the COVID-19 surging cases. The Ministry of Commerce has cut the red tape for imports of some pharmaceuticals which have been earlier imported.

Source: The Global New Light of Myanmar