Trade documentation, payments in Myanmar to be completed online

Myanmar will launch an online portal that will enable all paperwork and payments to be done digitally to facilitate trade in November.

Administrative procedures such as applications and payments for export and import permits can be done online on the Myanmar Tradenet 2.0 portal, while the documents can also be issued digitally.

These procedures had all been done manually at the Department of Trade in the past.

“Foreign countries are already using TradeNet4.0. In Myanmar, we are just moving to Tradenet 2.0. We have to keep pace with our trading partners and this is also very helpful in reducing physical contact during the COVID-19 period,” said U Min Aung Aye, director of the Department of Trade.

He added that Myanmar can expect trade to rise once the online system is in place. “In Tradenet 2.0 we have amended some of the existing policies in applying for and renewing export/import licences,” he said.

By going online, traders will no longer need to submit recommendations from the various departments, including the Department of Agriculture, Livestock Breeding & Veterinary Department and Food and Drug Administration, to the Department of Trade.

“As all the documents can be accessed on the system, traders will not need to visit all the departments to obtain the required documentation for the process,” U Min Aung Aye said.

All traders should update their details online before October 25. After that deadline, accounts with incomplete data will be removed from the system.

The ministry will strive to launch Tradenet2.0 in time despite the lack of staff working in the office during COVID-19, he added.

“To see the original article click link here”

Source : Myanmar Times

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