30 June 2016
MYANMAR: Further 267 Commodities Freed from Import Licence Requirements
Some 267 additional commodities will no longer require import licences as of July 2016, according to the country’s Ministry of Commence. In August 2015, import licence requirements were withdrawn for all products with the exception of 4,405 designated items. This latest move reduces that prescripted list still further.
A detailed list of the newly-exempt commodities will be announced in July 2016, following consultation with the relevant Myanmar ministries and customs operations. Although free from licence requirements, all such items will still need to be declared to the customs authorities and may remain liable for import duty.
The change is part of ongoing government moves to stimulate trade by liberalising Myanmar’s economic policy. In an earlier move, the country launched an online approval system for export and import licences as part of a bid to boost trade and curb corruption. For more details, see MYANMAR: Online Import and Export Licence Approval Introduced to Curb Corruption.