Export Earnings Notice: Ministry of Commerce issues notice

The Ministry of Commerce issued a notice.

The notice states that it has already been announced that exporters must deposit their export earnings into their banking accounts in foreign currencies within three months from the date of the shipment of goods without fail under the Foreign Exchange Management Law, Foreign Exchange Management Regulations and Notification No. 46/2021 of the Central Bank of Myanmar (CBM).

The exporters/importers' registration certificates of 346 export companies were revoked in 2021 for failing to follow the orders of the CBM. Therefore, if the export/import companies do not deposit their export earnings within the fixed period of CBM, the exporters/importers’ registration certificates will be revoked.