Firms cautioned when exporting pepper to Myanmar
The Ministry of Industry and Trade’s Agency of Foreign Trade has warned domestic enterprises to take caution when exporting pepper to Myanmar after a local company was added into the list of importers under close watch by the Myanmar Customs.
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The company is named Ngwe Galon Min Co., Ltd and addressed at No.446/447, Konzedan street, Thein Gyi Zay (A) Yone, Pabedan Tsp, Yangon.
Under the Myanmar law, imports that fail to pass customs clearance within 60 days since arriving at a local port will be put up for auction and added to the public property.
According to the Vietnam Trade Office in Myanmar, the company refused to receive Vietnamese pepper due to their falling prices at the time of delivery.
The agency advised firms to actively grasp information about free trade agreements, especially those regarding tax incentives, quality requirements and rules of goods origin.
It also encouraged businesses to adopt modern technology to raise the rate of white pepper for export to 20 percent by 2020 and 50 percent by 2030.