March 10, 2016
The Republic of the Union of Myanmar has moved one step closer to liberalizing its trade economy. On February 19, 2016, the Myanmar Ministry of Commerce issued Notification No. 11/2016, which lifted existing trade restrictions on foreign-owned joint venture companies that prevented them from trading in certain classes of goods relating to agribusiness and medical equipment.With the removal of these trade restrictions, foreign-owned joint venture companies are now allowed to trade in the following classes of goods: