Some food items Textile From March 1, 2022, the Ministry of Commerce and Industry has declared that goods lines containing bicycles and motor vehicle spare parts need to apply for import licenses. In the aftermath of the COVID-19 outbreak, businesses may need to be rehabilitated. The country’s exports; In order to streamline imports and regulate the use of foreign currency for the import of goods, some imported goods will be subject to the import license system. In order to prepare the importers for the import license system, the first step is to apply for import licenses.
The second step is to get some food; Some basic plastic products and some home appliances, wood pulp, cotton carpets such as carpets and textile. According to the joint 2017 Customs Tariff of Myanmar, which includes a variety of glassware, bicycles and vehicle parts, 451 lines with HS.Code 6 digit or 826 lines with HS.Code 10 digit will be designated as import lines from March 1, 2022. Therefore, according to Notification No. 68/2020 issued on October 22, 2020, 3931 product lines with HS.Code 10 digit are required to apply for import license.
With the HS.Code 10 digit issued on the Import / Export Newsletter (18/2021), the products specified in the attached HS.Codes, including 3070 freight lines, can be used for any of the freight lines required to apply for an import license. From March 1, 2022, it will be allowed to import goods through air and border trade routes only after applying for an import license in accordance with the procedures. The Department of Commerce has announced that it will continue to issue a notification letter in accordance with the Import and Export Law on the list of goods in paragraph (3) above, which is required to apply for an import license.
Myanmar exports agricultural products Animal products Fishery products; Minerals; Forest products; Exports of manufactured goods (CMP) and other commodities. Imports include investment goods; Business raw materials; Consumer goods Mainly imports CMP raw materials. Myanmar’s annual foreign trade in the 2012-2013 fiscal year was $ 8977.015 million. Imports amounted to $ 9068.914 million and the trade volume was $ 18045.929 million. In the 2015-2016 financial year, exports were $ 11,136.878 million. Imports were $ 16,577.948 million and trade was $ 27714.826 million. In the 2016-2017 fiscal year, exports amounted to $ 11,998.545 million. Imports amounted to $ 17,211.062 million and trade reached $ 29,209.607 million, according to the Ministry of Commerce.
Source: Daily Eleven