This situation continued until the middle of April. The distribution process became segmented and banana import from Myanmar was temporarily disrupted. Even people without Covid-19 were not allowed to just cross the border through any port in Yunnan. "The provincial government of Yunnan published three announcements with regard to the outbreak of Covid-19 around the 23rd of March. (hereafter referred to as 'Jinxin Company'), recently talked about current conditions in Myanmar banana export to China. He Zhongpu, the assistant CEO of Yunnan Jinxin Agriculture Co., Ltd. The import volume is also larger than a few months ago.
The number of trucks that cross the border at Houqiao in Yunnan continues to grow. The 158 companies (attached list) are being prosecuted under Section 42-a of the Foreign Exchange Management Law, and the boards of directors of the companies and the listed companies have been blacklisted, and the remaining companies are still being investigated for additional export earnings.The conditions of Myanmar banana export to the Chinese market has gradually improved in recent weeks.
MYANMAR EXPORTER REGISTRATION
Sending notification, revocation of the business registration license, and holding meetings were done to discuss several times under the paragraph (2) above, but there are 158 companies that exported within 2016, 2017, and 2018 and they still remain to enter the revenue. (e) Five meetings with exporters led by the Central CommitteeĮxporters are required to comply with Section 38 (b) of the Foreign Exchange Management Law, which states, “No one shall fail to deposit all export earnings into his bank account in the country in foreign currency within the stipulated period,” and “Violation of this prohibition is punishable by imprisonment for a term not exceeding one year or a fine or both punishments must be imposed under Section 42-a of the law.” (d) The Ministry of Commerce closes the registration certificate of importers and exporters (Pa-Tha-Ka) for those who do not clarify (30 days) (c) Announcing to clarify in the newspapers and the website of the Central Bank of Myanmar (60 days)
(b) Clarification by the UMFCCI (60 days) In order to ensure that export earnings of the exporters who exported during 2016, 2017, and 2018, are credited back to their bank account in foreign currency within six months from the date of shipping, the Central Committee on the Smooth Flow of Trade and Goods, the Ministry of Investment and Foreign Economic Relations, the Ministry of Legal Affairs, the Ministry of Commerce, the Central Bank of Myanmar, the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), and the Foreign Exchange authorized dealer (AD) licenced banks, have already done the following:
MYANMAR EXPORTER FULL
Since it is important to get the full revenue from exports, the main source of foreign exchange into the country, Section 38-b of the Foreign Exchange Management Law and Paragraph 35 of the Foreign Exchange Management Rule stipulate that the exporter is required to have the export earnings in foreign currency into his/her bank account within six months from the date of shipment (within three months from 10-11-2021). The Central Bank of Myanmar announced that 158 companies which remain to enter export revenue in foreign exchange and boards of directors have been blacklisted.
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