Pharmacy companies no longer need to seek import permit

Following relaxations of the import permit, pharmaceutical and medical device importing companies can directly apply for the import licence through Myanmar Tradenet 2.0 portal, according to the statement released by the Trade Department.
The companies initially had to seek import permits from the Myanmar Pharmaceutical Association and the Ministry of Health. Since those procedures are eased, they can directly apply for the import licence from 31 August as before.
Earlier, the permits for the importation of pharmaceuticals and medical devices had to be submitted to the Ministry of Commerce. From April 2022, they started to be forwarded to the Foreign Exchange Supervisory Committee. Upon approval of this committee, the import can be undertaken. Furthermore, the prices of pharmaceutical and medical devices were in short supply following Kyat weakening against the safe-haven US dollar.
Afterwards, pharmaceutical companies can seek import licences if they purchase the dollars on the over-the-counter market in their own ways, according to a notification released by the Trade Department. — TWA/GNLM