National Trade Portal to be launched online this year
To guarantee transparency and clarify the complicated rules and procedures related to trade, a website called National Trade Portal is set to launch at the end of 2015, according to the Ministry of Commerce.
“We will provide data regarding exports and imports and taxes, as well as information released by other ministries. It is under mapping now,” said an official from the ministry.
The United States Agency for International Development (USAID) lent expertise to the development of this website.
The website is meant to be a one-stop source of extensive data regarding tax amounts, tax-free goods, tax exemptions and need updates.
The National Trade Portal will be connected to the Asean Trade Portal.
“The National Single Window will be connected with the Asean Single Window, and the information will be offered in both English and Myanmar. We’ve gathered the required data for now,” the official added.
Both locals and foreigners have reported Myanmar's trade and tax rules to be difficult to understand.
“Ministries have weak cooperation with the private sector. So I welcome the idea of three trade portal. There are some regulations that are hard to understand, even for a local businessman. It will also help build mutual trust between the government and the private sector,” said a private business owner.
The trade information on the portal website will be shared with the World Trade Organisation in order to ensure transparency.
Many believe Myanmar can boost its service sector by offering clearer rules on foreign investments and developing the local business environment.