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Finance, Banking, Trade and Tax Structure

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             (2) Border Trade was regularized in order to develop and strengthen the bilateral trade relations with the five neighboring countries . Department of Border Trade was established and its 11 branch offices providing one - stop service for border trade matters in collaboration with various departments concerned.
             (3) Export and Import procedures was realigned.
             (4) Lowered the technical barriers to trade and simplified export/ import procedures geared towards trade facilitation and promotion.
             (5) Incentives are being given to exporters by allowing 100 % retention of export earnings for importation of goods.
             (6) Trade notifications are being issued by specifying necessary rules in conformity to .
             the changing internal and external business environment.
             (7) Exemption of commercial tax and customs duty on the imported items like fertilizers, agricultural machineries and implements, insecticides and pesticides, medicines and raw materials.
             (8) The role of Chambers of Commerce and Industry had reactivated and reorganized the Union of Myanmar Federation of Chambers of Commerce and Industry - UMFCCI for the promotion of trade and industry of the private sector. To be in line with the market oriented economy, the foreign trade policy of Myanmar is also a very independent one. We can trade with any country in the world except with some countries that are trade embargoed by the United Nations Resolutions or a few countries and territories which we have cut off diplomatic relations. Myanmar believes in trade liberalization and also wants free and fair trade in the world. Myanmar was a founder member of the old organization, GATT and a member of the new organization, WTO. Hence, our foreign trade policies are generally governed by the rule-based multilateral trading system.
             Government Agencies issuing import permits and licenses.
             Enterprises must register with the Ministry of Commerce as exporters/importers.


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