Laos has expanded its registration requirements for importers and exporters by mandating additional registration and financial procedures. Bank of Lao PDR (BOL) Decision No. 677, which was issued on July 24, 2023, requires importers and exporters to register with the BOL and to open a dedicated commercial bank account for their import-export business activities. These requirements are in addition to the May 2023 stipulation ordering importers and exporters to register with the Ministry of Industry and Commerce (MOIC). Registration and Account Opening After registering with the MOIC and receiving their MOIC registration certificate, importers and exporters have 10 days to register with the BOL. Within five working days of receiving a complete application, the BOL will issue a registration notification, after which the importer or exporter has 10 days to present its BOL registration certificate and the required supporting documents to a commercial bank for opening the specified bank account. Banking Requirements and Supporting Documents Payment for goods and services made or received from abroad by importers and exporters must take place via electronic wire transfer via the dedicated bank account opened specifically for import-export activities. The importer must provide the commercial bank with various required documents as evidence for each transaction. Likewise, exporters’ receipt of payment from abroad via bank transfer must take place using the bank account opened for import-export activities within the timeline specified in the sale-purchase agreement, but not exceeding 180 days from the export date. After receiving payment from abroad, the exporter must provide copies of various payment-related documents to the commercial bank. Exporters that wish to use any of this income to repay a loan must submit an application and supporting documents to the BOL for approval. The BOL will decide on the application within 10 working days of receiving the complete application

On August 14, 2023, the Central Bank of Myanmar (CBM) approved the Thai baht (THB) as a permissible currency for international payments and settlement transactions. This announcement, which took immediate effect with the issuance of CBM Instruction No. 11/2023, reduces currency conversion complications for Thai businesses and investors in Myanmar. Under Myanmar’s current rules requiring conversion of foreign currency transfers and balances to local currency—in place since April 3, 2022—the US dollar (USD) is used for international payment and settlement transactions and must be converted at the official exchange rate (currently USD 1 to MMK 2,100). Subsequently, the CBM instituted a direct payment mechanism allowing THB to MMK conversion for Myanmar-Thailand border trade and other flows of capital. The CBM’s latest announcement now permits international payments and settlement transactions in THB through authorized dealer banks. Business owners and investors using THB for international payments are still required to obtain prior approval from the Foreign Exchange Supervisory Committee (FESC), the body overseeing foreign exchange and conversion matters in Myanmar. Capital-related transactions using THB also still require approval from the CBM before applying for approval from the FESC. For more details on these THB-MMK payment systems, or on any aspect of foreign exchange regulations in Myanmar, please contact Tilleke & Gibbins at [email protected].

On July 14, 2023, Myanmar’s Ministry of Planning and Finance issued Notification No. 50/2023, which sets out the rules, requirements, and procedures for registered trademark owners to protect their intellectual property rights through customs recordation in accordance with the relevant section of the Trademark Law 2019. The notification is accompanied by eight forms to be used in trademark-related customs matters (three for use by applicants and five for use by the Customs Department). Customs Recordation Owners of trademarks registered under the Trademark Law 2019 can apply (directly or via a legal representative) for customs recordation to protect against cross-border trade in counterfeit goods bearing their registered marks. Applications using the specified form should attach the required documentary evidence, including any separately specified by the Customs Department. If the application for recordation is accepted, the Customs Department will provide the applicant with a registration number within 15 days of receiving the application. Recordations are valid for two years from the acceptance date of the application and can be renewed every two years, 30 days before the expiration date. According to the notification, owners of marks recorded by the Customs Department must notify the department within three working days upon amendment or withdrawal of any information related to the mark at the Intellectual Property Department (IPD), and submit any necessary documentation. Suspension Order Regardless of whether a customs recordation has been filed, owners of trademarks registered under the Trademark Law 2019 can request a suspension order to prevent the release of goods into free circulation by laying out sufficient grounds for believing that counterfeit goods are being or will be imported into the country. Applications can be in English or Myanmar language, and a translation may be required upon the Customs Department’s request. Applications can be submitted in person, by post,

Cambodia’s new Law on Rules of Origin, which was published on July 5, 2023, is an important legal development that will help the country become a more important trading, manufacturing, and processing hub in the ASEAN region. This legal development accords with the government’s aims to increase consumer protection and clarity on product origin, encourage cross-border trade, position Cambodia as a source for quality manufacturing and processing, and push the “Made in Cambodia” quality label. These new, much clearer rules of origin also bring Cambodia’s legal framework in line with trading obligations set by ASEAN and the WTO. Furthermore, the new rules help clarify the implementation of several multilateral and bilateral trade agreements that Cambodia has concluded in recent years, such as free trade agreements with China and South Korea and the Regional Comprehensive Economic Partnership. Rules of Origin and Cambodia’s Role In international trade, products often make multiple trips before they end up with the consumer—the raw materials may be sourced in one country and processed in another, and then the product may be finished in a third country before the finished product is exported to a different country altogether. Rules of origin determine which country in the production chain qualifies as the country of origin. This is important because the country of origin may be subject to a preferential trading scheme, or there may be legal requirements to declare the correct origin in the country of sale, for example, based on labeling and consumer protection rules. Prior to the new Law on Rules of Origin, ad hoc rules of origin applied in Cambodia, often depending on bilateral agreements, multilateral agreements, or international preferential trading schemes. For example, the EU, US, and Japan have individually adopted preferential trading schemes with selected countries through Generalized Scheme of Preferences (GSP)