Pharma import licences tied to repatriated export earnings

Only when companies repatriated export earnings could they seek a pharmaceutical import licence commencing from 1 September, Foreign Exchange Supervisory Committee.
Applications for pharmaceutical import licence until August 2024 on the Trade Net 2.0 platform of the Trade Department will be deleted. According to the decision of the committee meeting (66/2024), repatriating export earnings is requisite in seeking a pharmaceutical import licence.
Additionally, 116 pharmaceutical importing companies submitted 716 applications worth $103.822 million in October 2023 to the Myanmar Pharmaceutical and Medical Device Manufacturer Association. They are required to submit new ones after the association scrutinizes them. After the Foreign Exchange Scrutiny Committee gives them a green light, import licences will be granted. — TWA/KK