Myanmar to lift licensing requirement for some import items
Licenses for importing some of the over 4,000 products into the country will be done away with as part of the move to facilitate trade and ensure Myanmar adheres to international trade regulations.
Ministry of Commerce assistant secretary U Khin Maung Lwin said import licenses will be done away with in a move to facilitate freer trade. “Some items will be liberalized but not all. We mainly aim for trade facilitation,” he said.
There were more than 10,000 items that needed licenses to be imported into the country previously but through liberalization, only around 4,000 such items still require licenses. The Ministry of Commerce will discuss with related departments as to which items will not need import licenses.
The move is in line with trade liberalization policies all over the world and with rules under the World Trade Organisation and ASEAN, both of which Myanmar belongs to.
“As it takes time to apply for licenses, there are expenses. If we lift some of the licensing requirement, it saves time and money,” U Khin Maung Lwin said. – Translated