Imported Licenses to apply: Ministry of Commerce announced on 5th April

The Ministry of Commerce announced that it would require application for import licenses to imported products such as electronics, foodstuffs and cosmetics, on 5th April, 2022. Almost 1,600 types of essential imported products are can be imported after applying for the license. So, the importers can apply for 70% of their exports and imports products on-line to speed up the process, since 1st April in this year.

There are about 70% of the country’s domestic trade comes from sea route and 25% are comes from cross border trade. On the other hand, China and Singapore are the largest importers and the US is the least.  

Hla Oo, Member of CEC, UMFCCI said "We are currently prioritizing the important items such as fuel oil and cooking oil. Both are given priorities and we are permitting the licenses for them. The second most important items are the industrial raw materials such as ball bearings, rods and plates, because factories would not be able to operate without them. That’s why we are permitting them the licenses as a second priority. On the other hand, vehicles are not currently allowed. "

Dr. Soe Tun, Vice- President, MRF said "As an importer, it takes more time and money. If the application for the licenses is allowed 100% on-line, we can only apply from our office. If we have to go to the relevant office and apply to the Department of Commerce, it can cause more costs. So, if we need to apply for licenses, I think it would be better to apply via on-line. "

According to the statistics, there are about 10 countries importing goods to Myanmar with more than 7.7 billion USD in 2019-2020 fiscal years.