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