Foreign Firms Allowed Trade Agricultural Products, Constructional Materials

Myanmar has allowed foreign companies to engage in both wholesale and retail trading of fertilizer, pesticide, seeds, hospital equipment and construction materials, according to Notification 36/2017, issued by the Ministry of Commerce.

Foreign firms are allowed to do so in line with prescribed health and safety codes and international trade procedures so that the country can use better-quality equipment and materials to improve the infrastructure in the agriculture and health sectors.

To apply for an export and import licence, foreign companies need to submit Form 6/26, issued by the Directorate of Investment and Companies Administration, together with a bank statement and a promise to follow departmental instructions and procedures. They also need to open a bank account with foreign capital.

The notification says types of goods to be traded can be changed depending on the local market and the situation of local businesses.

 

Source: Eleven Myanmar

 

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