Monday, 25 February 2013 16:27 Khin Myo Thwe
The Ministry of Commerce has eased laws for local businesspeople by passing a bill that will allow all imports and exports to proceed without licenses as from April 1.
|Containers of cargo wait to be loaded for export abroad at Yangon port. (PHOTO: Bo Bo / Mizzima)|
“As a first step, 166 import products and 152 export products will be allowed without license from March 1, 2013. By April 1, all import/export products will be allowed without license,” a high ranking official from the Ministry of Commerce told Mizzima.
“It’s good news for merchants," said Tun Aye, the secretary of the Myanmar Fishery Products Processors and Exporters Association.
“It means less time will be consumed waiting for the license process, plus the elimination of other unseen overhead costs will lead to a drop in the price of commodities,” he said.
- $63 million in beans exported in January
- Upwards, not sideways, for Myanmar crabs
- Burma-US trade up 200%