Local car prices turn volatile as online market for govt car import permits emerges

Prices for semi-knocked down (SKD) cars assembled in Myanmar have declined during COVID-19. While this was due to a drop in demand due to travel restrictions and the suspension of initial vehicle registrations to avoid physical crowds at the Road Transport Administration Department’s offices, one other reason why sales have stalled is the issuance of […]

CMP garment exports drop by $176 mln in first month of 2020-2021FY

Myanmar’s garment export sector, which constitutes over 20 percent of overall export value, showed a steep drop of US$176 million in October of the current financial year, according to the data released by the Ministry of Commerce. In October of FY2020-2021, the country exported $203.95 million worth of garments to foreign countries. The figure plunged […]

China to implement two of three border trade zones

China will construct just two out of the three trade zones slated for development at the Muse-Ruili (Kyeagaung) designated areas. Under the initial Muse-Ruili (Kyegaung) project agreement, the two governments had agreed to designate the area as a Core Zone for trade between China and Myanmar while the Kyu Kote –Pang Sang –Watain – Kyin […]

CMP raw materials import plunges to $264.7 mln as of 20 November

Imports of raw materials by CMP businesses touched a low of US$264.7 million as of 20 November in the current financial year 2020-2021, which fell from $332 million registered in the previous 2019-2020FY, according to the Ministry of Commerce. The figures reflected a decrease of $67 million, the Commerce Ministry’s data showed. At present, some […]

Freight rates spike to triple due to container shortage

Pandemic-induced container shortage pushed up the freight rates to almost triple in Myanmar, businesspersons in the logistic industry shared their opinions. The container shortage has become the biggest disrupter in shipping amid the coronavirus impacts, on the back of robust demand on the Asia-Europe and transpacific trade. Container shipping costs are drastically surging. The shipping […]

Myanmar launches e-commerce innovation challenge under COVID-19 plan

Since the first COVID-19 case was reported in March, Myanmar has witnessed a surge in digitalisation as both businesses and consumers moved online to adapt to the containment measures.For instance, NearMe, a Myanmar-based digital services platform, on November 12 announced a tie-up with Ninja Van Myanmar, enabling the logistics provider’s partners to accept digitalpayments from […]

Myanmar raises trade target, aims to grow agri-exports this year

Myanmar is forecasting higher trade volumes in fiscal 2020-21 compared to the previous year despite potential setbacks from COVID-19, said U Khin Muang Lwin, assistant secretary from the Ministry of Commerce under the National League of Democracy government. The ministry is expecting trade volumes to reach US$34.7 billion in the current fiscal year, with exports […]

Construction on China’s BRI Deep Sea Port to Start Soon in Myanmar’s Rakhine State: Govt

YANGON—The construction of the China-backed Kyaukphyu deep-sea port will begin soon, as preparations on both the Myanmar and China sides are on track, according to the Ministry of Commerce. The project is a crucial part of the Kyaukphyu Special Economic Zone (SEZ) in western Myanmar. The SEZ is expected to boost development in China’s landlocked […]

Import of essential items for COVID-19 approved without licence

Government has allowed import of essential items for COVID-19 prevention and control such as surgical masks, PPE, beds, ventilators and related equipment with the necessity to apply for import licences, according to the Ministry of Commerce. The ministry issued a negative list dated May 21 in 2019 which requires importers to apply for import licences. […]

Law against hoarding or price gouging of essential medical supplies & consumer goods during the COVID19 pandemics

Republic of the Union of Myanmar Ministry of Commerce Notification 21/2020 Republic of the Union of Myanmar Ministry of Commerce Notification 21/2020 7th Waxing of Tagu, 1381 ME (30 March 2020) This notification is issued in exercise of the power set out in the Notification No 26/2020 of the Union Government dated 30 March 2020. […]