The export-import registration certificates of 93 companies will be revoked and actions will follow if export earnings are not deposited back into local bank account within two weeks of the trade, the Ministry of Commerce (MOC) said in a final warning against the companies last week. According to Foreign Exchange Management Law, all earnings in […]
China to increase Myanmar’s rice export quota to 400,000 tonnes: MOC
April 25, 2019 by
China has agreed to import 400,000 tonnes of rice from Myanmar via sea, increasing its import quota for Myanmar rice from 100,000 tonnes currently, U Khin Maung Lwin, assistant secretary from the Ministry of Commerce (MOC), told The Myanmar Times. “Rice can be shipped to China soon,” he said. The development comes after the two […]
Myanmar rice exports face backlash in African market
April 24, 2019 by
The Myanmar Rice Federation (MRF) guaranteed the quality of Myanmar-produced rice after the Ivory Coast last week said it had destroyed over 18,000 tonnes of rice originating from Myanmar, deeming the produce unfit for human consumption. Three Myanmar companies had sold over 20,000 tonnes of rice to Singapore-headquartered Olam International Co Ltd. The cargo left […]
Trade laws protecting local producers now being drafted: MOC
April 24, 2019 by
The Ministry of Commerce (MOC) is drafting new trade laws to safeguard local producers while promoting exports of domestically-produced goods, Minister of Commerce U Than Myint said. Due to the lack of investments and technology, Myanmar producers face stiff competition from their regional peers, who are able to manufacture at faster speeds and lower costs […]
Myanmar aims to increase trade with South Korea
February 25, 2019 by
Myanmar will raise efforts to boost trade with the Republic of Korea, said U Aung Soe, Permanent Secretary of the Ministry of Commerce (MOC) during an event to promote local agriculture exports to South Korea on February 16. The event was hosted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]
Government prohibits import of frozen meat at Thai border
February 20, 2019 by
The import of frozen meat at the Myanmar border will be prohibited from March 1 onwards, U Khin Maung Lwin, assistant secretary of Ministry of Commerce (MOC), told The Myanmar Times. The border ban includes all forms of frozen meat, including red meat, fish and marine produce. However, importing via sea routes is still permitted. […]
Businesses warn govt not to backtrack on retail and wholesale reform
July 4, 2018 by
AMID news that the commerce ministry might backtrack on the retail and wholesale sector reform and impose further restrictions on foreign investments, business leaders warn that any such retraction will be “extremely disappointing” and seriously derail efforts to attract foreign investments for the country. The ministry insisted that they currently have no plans for additional […]
