SUBCOMMITTEE TO EASE IMPORTING OF FOREIGN GOODS

To ease restrictions on the importing of wine and other foreign goods, the Trade Development Sub Committee (TDSC) has been in discussion with the Ministry of Hotels and Tourism. Over a trial period in early February, online applications for import/export entrepreneur licenses as well as business agent licenses were initiated. This would in turn allow businesses to no longer ask for permission from the Myanmar Investment Commission. Also, foreign companies can import goods such as wine, oil and other foreign products by avoiding cumbersome bureaucratic procedures. The new licenses also grant private businessmen permission to import lubricants through ports not just in Yangon, but also in Mawlamyine, Pathein and Sittway. Moreover, they allow the import of edible oil without weight restrictions and for daily updating of money exchange rates at border trade camps.