Import quota to get cancelled upon lack of licence on trade net 2.0 platform

Import quota will be cancelled unless traders apply for import licence on the trade net 2.0 platform, the Ministry of Commerce’s Trade Department released a notification on 8 March.
For 2022-2023, a total of 92 importing companies for polyethene, 1,762 for plastic raw materials, 1,411 for iron and steel products and 431 for food products were given the import quota respectively. The Republic of the Union of Myanmar Chambers of Commerce and Industry apprised those companies of this notification.
Regardless of the quota pass, some traders are found to fail to apply for import licences on the trade net 2.0 system. They are warned of quota cancellation if they do not seek an import licence within one week.
Those who have sought export and import licence and permits on Tradenet 2.0 platform through Tradenet 2.0 system are mandatory to withdraw the licence within a set period and they will be fined for late withdrawal, the Trade Department under the Ministry of Commerce released Notification No 5/2023 dated 27 February 2023.
The licence applicants need to make payment and withdraw the licence within seven days of approval by the department. Those who fail to do so will be cancelled automatically, according to the export/import notification No 4/2022.
However, the timeline for striking off from the system will be changed to three months instead of seven days.
In addition to licence fees, fines are to be paid K45,000 from eight to 14 days, K90,000 from 15 to 30 days, K180,000 for two months and K360,000 for three months.
During the auto cancellation period for licence/permit processing, the applicants will have their licence temporarily suspended for six months if they fail five times in three months, the notification No 20/2020 stated.
This being so, exporters and importers are suggested to withdraw their licence within seven days, the Trade Department notified on 27 February.
Auto cancellation of licence seeking process and temporary suspension of licence commenced from 1 March, the Trade Department stated. — NN/EM