The Ministry of Commerce (MoC) has drafted a law to establish a trade development body made up entirely of cabinet ministers and empower the new authority and MoC to issue lists of restricted items and non-tariff regulations. The legislation is expected to be approved by parliament within this year and the drafting was supported by the World Bank and German’s development agency GIZ. Under the draft trade law, businesses can import, export and re-export goods by obtaining trade registration certificates and licences issued by the commerce ministry, according to law firm DFDL.

Section 6 of the bill stipulates the formation of a trade development commission tasked with implementing the law. The proposed body, packed with ministers, will be chaired by one of the vice presidents, with finance minister U Soe Win as deputy chair. Section 27 authorises the commerce ministry to issue restrictions and prohibitions on goods and regulations in relation to the country of origin and other compliance certificates. It does not mention tariffs.

Section 34 empowers the ministry to send trade missions abroad and undertake trade promotional activities and exhibitions domestically and overseas. In addition, a one-stop service board will be set up to manage trade-related licencing and approval procedures. The draft law intended to regulate the e-market as well, which is largely an unregulated sector in Myanmar. The commission will carry out trade negotiations on goods and services, including intellectual property rights, and will further set up committees.

Source: Myanmar Times 

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