Companies not allowed to import with increasing demand more than three machines a week

Companies are no longer permitted to import more than three machines a week through both normal and border trade starting from 12th December, according to the Commerce Ministry. This limited number of import of machinery is effective starting from 5-ton-and-below machines, according to an announcement by the Commerce Ministry. The companies mainly import the machinery […]

External trade value reaches US$17billion, over US$2700million in trade deficit

External trade value as of 2nd December in this fiscal year 2016- 2017 totaled US$17,521.102million, with US$2,792.774million in trade deficit, according to the Commerce Ministry. In the similar period of last fiscal year, the external trade value was US$18,209.307million with a trade deficit of US$3,888.887million. The trade value this year slumped by US$688.250million when compared […]

Border trade value using Individual Trading Card reaches over US$6.6 billion

The value of trade using the Individual Trading Card (ITC) as of 25th November in this fiscal year 2016-2017 reached over US$6.6 billion, about US$200million higher than that of last fiscal year, according to the Commerce Ministry. During the last fiscal year, the value of trade with ITC at the border gates was over US$6.4billion. […]

Trade value slumped by over US$855million compared to similar period in last FY

Trade value as of 25th September in this fiscal year slumped by US$855.644million when compared to the similar period of last year, according to the statistics of the Commerce Ministry. The value of trade through sea trade as of 25th September in this fiscal year was US$12,096.291million whereas that in the previous fiscal year was […]

Only left-hand drive vehicles permitted to import in 2017

Only left-hand drive vehicles will be permitted to be imported to Myanmar next year, according to an announcement released by the Commerce Ministry on Wednesday. According to the model year limit of imported cars for 2017, cars made between 2011 and 2014 are allowed for import for replacing old and scrapped cars under a consignment […]

Automated cargo system to be adopted by customs department

The Myanmar Automatic Cargo Clearance System (MACCS) is slated to launch on 12th November by the Myanmar Customs Department. The new system is expected to help Myanmar meet its obligations, as a member of the Association of Southeast Asian Nations (ASEAN), to implement a single window system that allows traders to submit regulatory paperwork through […]

Indian government to promote private investment in Myanmar

NEW DELHI: Hoping to give more teeth to its Act East Policy, the Modi government has decided to expand India’s economic links with Cambodia, Laos, Myanmar and Vietnam (CLMV) by promoting private sector investments in these countries through a project development company. his announcement was made by Finance Minister Arun Jaitley while presenting the annual […]