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