Myanmar will start using TradeNet 2.0 portal that will enable all paperwork and payments to be done digitally to facilitate trade in November.

Traders will no longer need to submit recommendations from the various departments, including the Department of Agriculture, Livestock Breeding & Veterinary Department and Food and Drug Administration, to the Department of Trade.

“As all the documents can be accessed on the system, traders will not need to visit all the departments to obtain all the documentations for the process,” said U Min Aung Aye, director of the Department of Trade.

“Foreign countries are already using TradeNet 4.0. In Myanmar, we are just moving to TradeNet 2.0. We have to keep pace with our trading partners and this is also very helpful in reducing physical contact during COVID-19 period. Myanmar can expect trade to rise once the online system is in place. In TradeNet 2.0, we have amended some of the existing policies in applying for and renewing export/import licenses,” said U Min Aung Aye.

All traders should update their details online before October 25. After the deadline, accounts with incomplete data will be removed from the system.

Source: The Myanmar Times