Kampaiti border trade surpasses US$55 million mark as of 11 Aug

Myanmar’s Kampaiti border with the neighbouring country China amounted to US$55.29 million as of 11 August in the current financial year 2023-2024 beginning 1 April, comprising exports worth $47.139 million and imports worth $8.152 million. The figure increased from $39.75 million recorded in the corresponding period last FY 2022-2023.
The Kampaiti border aims to achieve a trade target of $3 million in August. About $1.088 million worth of trade was carried out at the Kampaiti border as of the second week of August, accounting for 36.27 per cent of the trade target.
Tissue-culture bananas were mainly exported and construction materials, intermediate goods, consumer goods, clothes and fruits were imported.
In the past two weeks of August, the Kampaiti border saw exports of 1,092 tonnes of tissue-culture bananas with an estimated value of $375,101. It imported 1,264 tonnes of compound fertilizer, 19 tonnes of hollow pipe, 14.6 tonnes of iron pipe, 24 tonnes of iron sheet in coil, 51 tonnes of artificial grass, 10.2 tonnes of apple and 7,400 tonnes of ceramic tile plain, apple, tangerine, clothes, construction materials and capital goods.
There is no freight forwarder service running in the Kampaiti border. Companies transport with their own trucks. There are no landslides or road blockages along the Kampaiti-Waingmaw-Myitkyina trade channel and trucks are regularly seen flowing in and out of the Kampaiti border post. 

Source: The Global New Light of Myanmar

CBM announces shift to online gold bar trading, similar to forex market

IT should launch online trading for gold bar transactions just like the online trading of the foreign currency market, said Daw Than Than Swe, governor of the Central Bank of Myanmar during the meeting with the chairman and secretary of the Monitoring and Steering Committee on Gold and Currency Market and departmental officials yesterday.

She also mentioned the need to allow those who hold legal certificates for following the mechanisms of meeting the standard for gold, quality, weight and pricing to participate in online trading to ensure gold price stability.

She then instructed the supervisors to inspect whether the price manipulators make price instability at gold shops, and whether the shops have relevant work licences and other certificates including the legal trading price and payment methods.

The CBM launched online trading programmes in the international currency market on 22 June. It sold US$6.89 million at K2,920/2,922 per dollar to six banks on that day and also announced that the online sale prices were illegal.

Moreover, the CBM reviewed the lists of buyers and sellers of foreign currency submitted by AD-licensed banks and sale listings between the banks and customers and also negotiated with the banks regarding the exchange rate and amounts.

Then, the attendees reported on the proper situation concerning the online trading of CBM for real estate agents and car brokers in addition to the foreign currency and gold market to make official transactions by laying down rules and regulations and the plans to inspect as per the Anti-Corruption Law.

Source: The Global New Light of Myanmar

Two weeks left to utilize Thailand’s Form D benefits for corn exports

With only over two weeks remaining to export Myanmar’s corn to Thailand under Form D customs tariff benefit, the corn market falters, traders explained.
Thailand gives the go-ahead to corn imports under zero tariff (with Form-D), between 1 February and 31 August. However, Thailand imposed a maximum tax rate of 73 per cent on corn imports to protect the rights of their growers if the corn is imported during the corn season of Thailand. There are only 20 days remaining to enjoy that customs benefit.
Additionally, torrential rain on 7 August destroyed some road sections to Myawady, a major border point between Myanmar and Thailand. Therefore, landslides blocked the corn’s trade route and repair works are being undertaken. As a result of this, the market is slowing down.
The prevailing prices of corn stand at K1,200-1,220 per viss in the domestic market while the FOB corn prices were US$290-310 per tonne, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Depot).
Myanmar conveys corn to China and Thailand through the border and also sends corn to China, India, Vietnam and the Philippines by maritime shipping presently, according to the Myanmar Corn Industrial Association.
China is purchasing Myanmar’s corn through cross-border trade under the opium substitution programme. Legitimate corn trade between Myanmar and China commenced at the end of 2022. A total of 112 companies have been given the go-ahead for corn exports.
Myanmar exported more than two million tonnes of corn to foreign trade in 2022 corn season. The majority of them were sent to Thailand and the remaining went to China, India, the Philippines and VietNam.
More than two million tonnes of corn are expected to be shipped to foreign trade partners in the 2023 corn season, said U Min Khaing, patron of the Myanmar Corn Industrial Association.
At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons — winter, summer and monsoon. The country produces 2.5-3 million tonnes of corn every year. 

Source: The Global New Light of Myanmar

38 th Trade Expo Indonesia welcomes Myanmar’s businesspersons

MYANMAR businesspersons are invited to join the 38th Trade Expo Indonesia, the international B2B-
focused hybrid trade show, that will be held between 18 and 22 October and organized by the Ministry of
Trade, Indonesia, according to the Union of Myanmar Federation of Chambers of Commerce and Industry
(UMFCCI).
The trade show brings up the theme of Sustainable Trade for Global Economic Resilience. Food and
beverages, cloth and textile, chemical, energy and industrial products, digital services, beauty care service,
hospital equipment, healthcare services and home appliances will be showcased. Those enthusiastic affiliated associations, entrepreneurs, potential buyers, importers and investors can register through www.
tradeexpoindonesia.com. For further details, they can contact Ms Irman on Ph: (+62) 8176440307, Email:
irman_dwn@yahoo.com, Mr Matthew Ph: (+62) 821 2246 4727, Email: eston.p2c@kemendag.go.id and Mr
Puja Bastara – Ph: (+62) 811 2228 112, Email: pujabestara@kemendag. go.id. Those who want to attend the
trade show are encouraged to send their name, position, and name of their institution, company or business on
the company letterhead to the UMFCCI’s expo division via Email: itpc. umfcci@gmail.com or dial 01-24-
314344~49 (Ext: 301) at the soonest.

Source: The Global New Light of Myanmar

Myanmar’s producers/exporters benefit from preferential tariffs through RCEP CO Form

THE Ministry of Commerce’s Trade Department has announced that producers and exporters in Myanmar
can now take an advantage of preferential tariffs through the Certificate of Origin (CO) Form RCEP. This form is available for products originating in Myanmar and intended for export to Cambodia, Thailand, Brunei, Laos, Singapore, Malaysia, and Indonesia. Authorized traders will be able to enjoy the benefits of preferential tariffs. To obtain the CO Form RCEP, interested parties can apply at the relevant export and import offices and border checkpoints under the Trade Department, as per the established rules and regulations. The Regional Comprehensive Economic Partnership (RCEP), a free trade agreement between the ten member states of ASEAN, Australia, China, Japan, the Republic of Korea, and New Zealand, came into effect in January 2022.

In addition, for manufacturing-related products, traders can obtain approved exporter status through the Online CO Application System (https://onlineco.myanmartradenet.com). Membership in RCEP comes with several trade benefits. The agreement provides tariff incentives based on the development status of each state. Specifically, Cambodia, Laos, and Myanmar have been granted access to preferential tariffs, while Viet Nam receives moderate tariff benefits. Furthermore, the least-developed countries will enjoy additional exemptions as outlined in the United Nations charter supporting the Least-Developed Countries (LDCs).
For example, the agreement grants preferential tariffs to Cambodia, Laos, and Myanmar over other states.
According to the agreement, RCEP members have to grant a 65 per cent customs tariff exemption. However, Myanmar, Cambodia, and Laos are only entitled to give a 30-per-cent tax-exempt to other entities a 30 per cent tax to other entities. Furthermore, ten years after the agreement’s implementation, members are obligated to grant an 80 per cent tax exemption. Myanmar, however, has been given a transition period of up to 15 years for its trade sector. Moreover, the agreement takes into consideration the needs of LDCs and aims to implement commitments while providing customs duty relief. This approach seeks to stimulate trade and investment opportunities, as well as promote participation in regional and global trade and value chains.
Being a member of both RCEP and ASEAN, Myanmar will have access to significant opportunities for
enhancing its international standing. This includes the ability to amend laws, policy frameworks, and regulations to support trade and investment promotion, as well as strengthen the capacities of governmental and private institutions. Additionally, Myanmar’s exports will benefit from expanded access to foreign markets, particularly those in developed and technologically advanced countries such as Japan, the Republic of Korea, Australia, New Zealand, and Singapore. This agreement is expected to attract responsible and accountable large-scale investments into the country.

Source: The Global New Light of Myanmar

Strong foreign demand makes butter bean market bustling

The price of butter beans jumped on the back of strong foreign demand in recent days, Mandalay bean traders said.
The Upper Myanmar region is the largest supplier of butter beans. Last year, the price was K180,000-K200,000 per three-basket bag of butter beans, whereas it significantly soared to K300,000-K320,000 per bag depending on the different sizes, according to Soe Win Myint depot. “The butter bean fetches a good price in recent days. The farmers store only seeds for cultivation and the traders are keeping the butter bean stocks in their hands. In addition to foreign demand, there is a high consumption of butter beans locally. They are yearly shipped to China, India, Japan and Europe. Lately, they are mostly purchased by China and India.

The Japanese and European market prefers large sizes of butter beans. It is a winter crop. The demand has grown year over year,” Soe Win Myint elaborated. The butter beans are primarily grown in the central regions of Myanmar, mostly found in Minbu, Sinphyu and Salin in Magway Region, Mahlaing, Taungtha and Natogyi in Mandalay and Gangaw, Kalay, Kalewa, Shwebo and Kabaw Valley areas in Sagaing Region. 

Source: The Global New Light of Myanmar

Moehtaung chilli pepper market sluggish before new supply enters Yangon market

Yangon market sees a slow-moving trade of Moehtaung chilli pepper variety this month amid low foreign and domestic demand and higher prices compared to that of the year-ago period.
The chilli pepper market is sluggish in early July 2023. Newly harvested Moehtaung chilli pepper from the Kyaukse area has not flowed into the Yangon market. However, traders have been storing the varieties of chilli peppers in cold storage. They are expecting a high price.
A new supply of Moehtaung chilli pepper was seen in the Yangon market on 24 June 2022. Yet, there is still no new stock inflow as of 7 July 2023, an owner of a chilli pepper warehouse located on Seinpan Street in Bayint Naung told the Global New Light of Myanmar.
Nonetheless, the new Moehtaung chilli pepper entered the Mandalay market at K15,000 per viss.
The prices stood at K13,000-15,000 per viss of chilli pepper (long chilli pepper and Moehtaung chilli pepper varieties) on 7 July 2023. Bell peppers supplied by Sinphyukyun and Delta regions and processed in cold storages fetched K19,000-19,500 per viss. The market is sluggish for now.
The original price of chilli pepper is higher in 2023 than that in 2022. Nevertheless, we still cannot expect that the price this year will hit the record high last year, a seller U Zaw Myint told the Global New Light of Myanmar.
Chilli pepper is among the inflated commodities in 2022, prompting people to reduce their consumption. Those traders who kept the stocks in hands reaped a handsome profit last year.

Source: The Global New Light of Myanmar

Cargo transport advances within five months of opening Ruili Border

ACCORDING to data from the Ministry of Commerce, there has been an improvement in cargo transport
activities in less than five months since the opening of the China-Myanmar border identified as the Ruili border. The China-Myanmar Ruili Border, which was opened on 8 January 2023, saw an increase of 7.4 per cent in export and import of 5.707 million tonnes compared to the same period of the previous year. Trade through the Ruili border has recovered in the first five months of this year, and since the opening of the border, more than 3,500 people have been entering and exiting the border every day.
Export types increased from 184 in the same period last year to 1,698 this year, and the number of foreign
trade enterprises that received trade volume increased from only 29 last year to 545 this year, according to Ruili Customs Department statistics. In addition, the Department of Trade under the Ministry of Commerce in Myanmar issued an announcement on 23 June that the banking system will be implemented in the Myanmar- China border trade starting from 1 August 2023.

According to the statement, Myanmar-Thailand border trade issues have been handled through the banking system since 1 November 2022, as an initial step, and on the second step, Myanmar-China border trade will be operated using the banking system from 1 August. When applying for an import licence, companies must submit the original bank statement and the credit advice issued by the relevant bank to the Trade Department so as to show that the income from exports (or other income) has been entered into the bank account (income entered after 1 January 2023 only) or purchased from a local bank. Thenthe department will verify the amount submitted by companies and issue an import licence that does not exceed the balance of the bank account. In doing so, import licence applications that have been applied for until 30 August are not valid. Importing goods with import licences that have been issued before that date must be completed before 31 August; if not, the import licences will be invalid.

Source: The Global New Light of Myanmar

Non-automatic licensing system will practice for importers: Ministry of Commerce

The Ministry of Commerce has announced that all import license applications for imports from the border will be allowed only through the non-automatic licensing system, as it is necessary to verify export income and other income evidences.

Seeking Import licenses through automatic licensing and non-automatic licensing systems on Myanmar Tradenet 2.0 platform is available from 22 June, according to the news bulletin (9/2023) released by the Trade Department under the Ministry of Commerce.

Having digitized the licensing system, import licensing for certain lines (1,525 lines) via seaborne trade will be automatically passed on to the system. According to that notification of the Ministry of Commerce, for seaborne trade, commodities lines that did not require import licenses before are mandatory for import licenses under the non-automatic import licensing process after 60 days from June 22.

Additionally, for imports via the border, only a non-automatic licensing system will be exercised amid the scrutiny of export earnings and other income documents. Those commodities that did not need import licenses before will be allowed to be imported with licenses after 30 days from today.

Total trade volume of Myanmar from April to March 2022-2023 FY is U.S $ 33.925 billion where last year trade volume was U.S $ 30.351 billion.  During 2022-2023 FY, it earned more than U.S $ 3.573 billion from foreign trade in compare with the same period last year.

Source: Daily Eleven

Traders need to seek registration for rice storage by 26 June

The wholesalers are required to submit registration for rice storage for above 5,000 baskets of paddy and 1,000 rice bags (over 50 tonnes) by 26 June 2023 at the latest, Myanmar Rice Federation released a notification on 21 June.
Under the guidance of the Ministry of Commerce, MRF has been making efforts and participating in the development of the rice market, systematic registration for rice storage, fair market and price stability as the role of the private sector.
MRF stated that digital registration service through Online registration (MyRO) is underway to facilitate the registration process.
While the MyRO online registration system is being set up, trial operations of warehouse storage situations will be conducted in Nay Pyi Taw Union Territory, Yangon, Ayeyawady, Bago and Mandalay regions in June and July 2023. The MRF asked those traders to submit a complete registration form by 26 June 2023 at the latest through export@mrf.com.mm/ or Viber No 09.400067240 or to the office of the MRF in person.
The traders must create a warehouse inventory list to track the stocks. The Department of Consumer Affairs and the MRF will go on an inspection tour of the warehouses as a public-private partnership.
The companies are also notified to fill in the registration form according to the stock information of their business partners (millers and rice traders) in other regions.
Those traders who store above 5,000 baskets of paddy and 1,000 rice bags (over 50 tonnes) are included in this registration. Those farmers working on a small scale and the retailers holding hundreds of rice bags in their hands are not entitled to this notification, a rice seller highlighted. The administrative committee of the MRF also notified that trial operations to collect the warehouse storage data are free of charge. 

Source: The Global New Light of Myanmar