Importers, exporters on Tradenet 2.0 platform need to withdraw licence during set period

Those who have sought export and import licence and permits on Tradenet 2.0 platform through Tradenet 2.0 system are mandatory to withdraw the licence within set periods and they will be fined for late withdrawal, according to the Trade Department under the Ministry of Commerce. The licence applicants need to make payment and withdraw the licence within seven days of approval by the department.

Those who fail to do so will be cancelled automatically, according to Export/Import Notification 4/2022. However, the timeline for striking off from the system will be changed to three months instead of seven days. In addition to licence fees, fines are to be paid K45,000 for eight to 14 days, K90,000 for 15 to 30 days, K180,000 for two months and K360,000 for three months.

During the auto cancellation period for licence/permit processing, the applicants will have their licence temporarily suspended for six months if they fail five times in three months, according to the notification (20/2020). Exporters and importers are, thus, advised to withdraw their licence within seven days, the Trade Department notified on 27 February. Auto cancellation of licence seeking process and temporary suspension of licence commenced from 1 March, the Trade Department stated. 

Source: The Global New Light of Myanmar

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Trade volume via Myawady, Tachilek exceeds US$40 mln in Feb 2nd week

The trade volume at the Myawady Trade Zone and the Tachilek Trading Post (Maeyang) stood at US$40.718 million within the second week of February, statistics of the Ministry of Commerce indicated.
From 11 to 17 February, $17.012 million worth of goods were exported and $20.561 million worth of goods imported through the Myawady Trade Zone, the trade volume totalling $37.573 million. Compared to the performance of the previous week, the value of exports and imports decreased by $0.411 million and $0.433 million respectively, and the value of trade dropped by $0.844 million as well. The Tachilek Trading Post (Maeyang) has been trading with the neighbouring countries China and Thailand.

Between 11 and 17 February, it carried out an export value of $1.421 million, an import value of $1.724 million and the trade value of $3.145 million. Compared to the previous week’s trading status, $0.475 million in export value increased and $0.081 million in import value decreased. This week, the Myawady Trade Zone sent fewer exports of peanuts, tamarind, white sesame, black sesame, rice flour, other agricultural products, metals and ores, other mineral products, crab and eel. Imports of motorcycle and spare parts, agricultural trailers and other vehicles, electricity distribution and installation equipment, wires, engines, finished metal construction materials, lace and embroidered textiles, bicycle accessories and other items are low.

At the Tachilek Trading Post (Maeyang), although items of dried prawn shells, old plastic cans, old cardboard paper, tangerines and tobacco leafs decreased, more brooms were exported than the previous week. Although tractors, machinery and equipment, glass building materials, electricity distribution and installation equipment, mineral building materials, iron and steel construction materials, petroleum products, paints, polish, metal raw materials, galvanized iron sheet, tyres and inner tubes, pharmaceutical products, soap, sports equipment, ready-made clothes, kitchen appliances and other items were imported more, cement, commercial vegetable oils, chemicals, plastic raw materials, iron and steel products were imported less. Such fluctuations influenced the trade volume, according to the trade list. 

Source: The Global New Light of Myanmar