MRF requested Commerce ministry not to collect two per cent of advance tax on rice ex

Myanmar Rice Federation (MRF) asked the Commerce Ministry not to collect advance taxes on rice and paddy exports, according to this Fedration. Additionally, MRF asked to reduce production costs, boost the production rate, shift the term to repay cultivation loans to the Myanma Agricultural Development Bank and cooperative associations, reduce the interest rate of loans […]

Import, export licences to be granted without scrutiny of proposed price

Import and export licenses will be issued without scrutiny of prices that may be listed in invoices and sale contracts submitted by the companies in order to have smoother flow of trade, according to an announcement released by the Commerce Ministry on 22nd November. The seekers of import and export licenses have to provide an […]

Muse border trade value reaches almost $3.2 billion

The total trade value of the muse border trade camp reached nearly US$3.2 billion this year, a decrease of over $140 million compared to the same period last year, according to the Commerce Ministry. Located between Myanmar and China, the Muse border trade camp has the highest volume and value of total border trade among […]

Maritime Trade Value Declines While Border Trade Value Increases

The value of trade through normal trade as of 11th November in this fiscal year declined by over US$328.406 million, while value of trade through border area increased by US$ 390.421million, according to the statistics provided by the Commerce Ministry. The value of exports as of 11th November in the current fiscal year was US$4,234.941million […]

Myanmar Rice Market Encounters Challenges

The Myanmar rice market is being faced with many challenges in its attempt to enter the highly competitive international market. Concerted efforts need to be exerted by all the stakeholders who are engaged in supply chain and the officials concerned to maintain a stable price, to make a profit for those who are participating including […]

About 100,000 tonnes of pulses to be sold to India under G to G agreement

About 100,000 tonnes of pulses will be sold to India per year under a government-to-government (G to G) agreement, according to the Commerce Ministry. Preparations to sign a bilateral Memorandum of Understanding (MoU) about the export of pulses are being made. The Myanmar Pulses, Beans and Sesame Seed Merchants’ Association will cooperate with the Commerce […]

Myanmar records trade deficit of over $2 billion in past seven months

The Commerce Ministry recorded a trade gap of over US$2 billion in the first seven months of the year, falling by over 700 million compared with the same period last year. The export value between April and October 21 this year was $6,210.023 while the import value surpassed $2.06 billion, whereas the country’s import value […]

Myanmar car importers struggle to survive

MYANMAR car importers are fretting that auto sales will continue to drop until the end of 2017 if the government does not come up with a clear, comprehensive auto policy. Soe Tun, president of the Myanmar Automobile Manufacturers and Distributors Association and chief executive of Farmer Auto Showroom, said importers were waiting for the policy […]

Proposed Vehicle Import Limits Dropped After Industry Outcry

After fielding numerous complaints from industry stakeholders in recent weeks, the government has made a policy about-face, backing down on most of its plans to restrict Burma’s vehicle imports beginning this year. The Ministry of Commerce last month made a controversial announcement detailing plans to tighten controls on the imported automobiles market, stating on Dec. […]