Importers now need to register business for trading agri inputs, medical equipment
Importers will not be allowed to trade six items – fertilizers, seeds, pesticides, medical equipment, construction materials and equipment, and agricultural machinery and equipment without a wholesale or retail business registration, according to the Trade Department under the Ministry of Construction.
Foreign companies and joint venture companies between foreigners and Myanmar citizens, which are importing the six items using their import-export registration certificate, were given a 90-day deadline from 21 May to apply and register their business. The registration period has expired, but businesses are being allowed to proceed with the registration process, in accordance with the rules and regulations. However, businesses that have not registered will no longer be able to trade the six items using their import-export license alone. MOC recently announced it has issued registration cards to 11 retail and wholesale trading services.
To register their business with the MOC, companies will require their company registration papers; a copy of approval or endorsement from the Myanmar Investment Commission (only for foreign companies and joint ventures which need them); recommendations of the city development committee concerned; a list of commodity classification of goods to be distributed retail or wholesale; and a detailed business plan, including the initial investment amount, the location of distribution, and the dimensions of the facility. A company can execute retail, or wholesale, or both the trading services. They can apply for registration at the Trade Department of the Ministry of Commerce in Nay Pyi Taw and the export-import licence office of the trade departments in Nay Pyi Taw, Yangon, and Mandalay, depending on the type of company.
Source: Global New Light of Myanmar
1754total visits,1visits today