ASEAN Affairs: Introduction of cross-border vehicle insurance

Introduction of cross-border vehicle insurance via online process through the ASEAN Compulsory Motor Insurance (ACMI) System took place in Yangon on Saturday afternoon which is in line with the ASEAN Framework Agreement on the Facilitation of Goods in Transit (AFAFGIT) Protocol-5.
Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein, Yangon Region Chief Minister and many other officials as well as representatives attended this event.
In his remarks, the Union Minister said that in ASEAN, Myanmar is among the 4 countries that can build and use the ACMI System Digital Platform. It is now possible for cross-border vehicles to enter Myanmar to get the compulsory motor insurance via online, saving time. People's fatigue will be less, and the country will be able to find more income. And, the cross-border vehicle insurance via online process through the ASEAN Compulsory Motor Insurance (ACMI) System was explained.
Then, the Union Minister and party ceremonially opened the introduction of cross-border vehicle insurance via online process. It’s learnt that Transit Transport Vehicles must have Compulsory Motor Insurance or Third-Party Liability Insurance of the transit country /destination country before crossing the border.
Operators of such vehicle have to purchase the required insurance policies covering the country of departure, transit and destination. The insurance documents will have to be carried in the vehicle for inspection at the border.