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].

Attorneys from Tilleke & Gibbins’ offices in Vietnam have provided the Vietnam chapter for the Aviation Finance & Leasing 2023 guide from Chambers and Partners. The guide covers the most important legal developments affecting aircraft lessors, lessees, and financiers in 32 jurisdictions worldwide. In addition to the Vietnam chapter, Tilleke & Gibbins also contributed the Thailand chapter for Aviation Finance & Leasing 2023. Each chapter provides in-depth details on the legal regimes affecting all aspects of aircraft sale and purchase, aircraft and engine leasing, and aircraft debt finance, including sale and lease agreement terms; taxation; lease registration and enforcement; lease assignment/novation; insurance and reinsurance; debt structuring; securities; liens; and many others that affect the day-to-day operations of leading players in the aviation industry. Chambers and Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, enabling readers to compare legislation and relevant procedures across a range of key jurisdictions. The Vietnam chapter of Aviation Finance & Leasing 2023 is available as a PDF through the button below, courtesy of Chambers and Partners. The full guide is accessible for free on the Chambers and Partners website.

Aviation specialists from Tilleke & Gibbins’ Bangkok office have contributed the Thailand chapter for Aviation Finance & Leasing 2023 from Chambers and Partners. The guide covers the most important legal developments affecting aircraft lessors, lessees, and financiers in 32 jurisdictions worldwide. In addition to the Thailand chapter, Tilleke & Gibbins also provided the Vietnam chapter for Aviation Finance & Leasing 2023. Each chapter provides in-depth details on the legal regimes affecting all aspects of aircraft sale and purchase, aircraft and engine leasing, and aircraft debt finance, including sale and lease agreement terms; taxation; lease registration and enforcement; lease assignment/novation; insurance and reinsurance; debt structuring; securities; liens; and many others that affect the day-to-day operations of leading players in the aviation industry. Chambers and Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, enabling readers to compare legislation and relevant procedures across a range of key jurisdictions. The Thailand chapter of Aviation Finance & Leasing 2023 is available as a PDF through the button below, courtesy of Chambers and Partners. The full guide is accessible for free on the Chambers and Partners website.

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,