- Italian-Thai’s hydropower project in lower Myanmar allegedly stops
- Swiss Upper House Speaker paves the way for Swiss investments in Myanmar
- Myanmar spends US$300m annually for palm oil imports
- First Central Cooperatives Business Center to be opened in June
- Wood, finished-wood products export gets exemption from custom check
- Best Western group to hand over Myanmar’s Green Hill Hotel
- Criticisms hit mall’s construction near sacred pagoda
- Import cargo services to be privatized in Yangon International Airport
- Myanmar to form “trade facilitation” force
- Myanmar Microfinance Bank to be launched
Published on Monday, 31 December 2012 08:16
A garment factory at Hlaing Tharyar Industrial Zone (Photo - EMG)
The Ministry of Commerce is now issuing recommendation for Certificates of Origin for GSP (Generalized System of Preference) to local exporters, which is the European Union’s tariff preferences granted to the developing countries, the minstry said.
People can register as import and export entrepreneurs at the ministry, obtain the export licences and apply for GSP if the country, to which the products are exported allows GSP benefits.
Myanmar traders can apply for GSP in line with the rules and regulations adopted by the original countries. Apart from EU comprising 27 countries, Japan, Switzerland, the US, Australia, Canada, New Zeland and Turkey have already granted GSP benefits to Myanmar.
The GSP Certificate of Origin issued by the ministry at present includes tariff preferences granted by developed countries (GSP, Form A), by Korea (Preferential Treatment for LDCs From Korea) and by India ( Duty Free Tariff Preference From India-DFTP Scheme).
The ministry is also issuing GSP Certificate of Origin that ensures reciprocal tariff preferences representing free trade area.
As a result of that Myanmar exempted ASEAN countries from their tariff on exports worth of over K4 billion (over USD48 million) up to October in 2012-2013, the ministry reported.
The ministry is now issuing Certificates of Origin contained in tariff preference scheme to the exporters at the designated offices and border routes, the ministry’s report said.
Since the new government took office in 2011, the European Union has adopted a constructive attitude towards Myanmar and has lifted its sanctions on trade and investment.
Last September, EU announced that it granted all made-in-Myanmar products duty-free and quota-free access to the European except for arms and ammunitions.