Cargo transport advances within five months of opening Ruili Border
June 26
According to data from the
Ministry of Commerce, there has been an improvement in cargo transport
activities in less than five months since the opening of the China-Myanmar
border identified as the Ruili border.
The China-Myanmar Ruili Border,
which was opened on 8 January 2023, saw an increase of 7.4 per cent in export
and import of 5.707 million tonnes compared to the same period of the previous
year.
Trade through the Ruili border
has recovered in the first five months of this year, and since the opening of
the border, more than 3,500 people have been entering and exiting the border
every day.
Export types increased from 184
in the same period last year to 1,698 this year, and the number of foreign
trade enterprises that received trade volume increased from only 29 last year
to 545 this year, according to Ruili Customs Department statistics.
In addition, the Department of
Trade under the Ministry of Commerce in Myanmar issued an announcement on 23
June that the banking system will be implemented in the Myanmar-China border
trade starting from 1 August 2023.
According to the statement,
Myanmar-Thailand border trade issues have been handled through the banking
system since 1 November 2022, as an initial step, and on the second step,
Myanmar-China border trade will be operated using the banking system from 1
August.
When applying for an import
licence, companies must submit the original bank statement and the credit
advice issued by the relevant bank to the Trade Department so as to show that
the income from exports (or other income) has been entered into the bank
account (income entered after 1 January 2023 only) or purchased from a local
bank. Then, the department will verify the amount submitted by companies and
issue an import licence that does not exceed the balance of the bank account.
In doing so, import licence
applications that have been applied for until 30 August are not valid.
Importing goods with import licences that have been issued before that date
must be completed before 31 August; if not, the import licences will be
invalid. — TWA/CT
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