YANGON, Feb. 16 (Xinhua) -- Myanmar's ministry of commerce will adopt full online licensing system to boost export and import, said the ministry on Thursday.
The ministry started the online licensing system for some items in June last year and the system was extended to allow import license for cutting, making and packing (CMP) garment in late January this year.
Seeking advice from the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI), the ministry is planning to adopt full online licensing system for more export and import items.
Suffering constantly trade deficit which is one vital problem for huge demand of foreign currency, the government is planning to enhance export to solve the deficit.
Local traders complained the complicated rules and regulations as part of restrictions to boost trade.
The trade deficit in nearly 11 months of this fiscal year 2016-2017 as of Feb. 3 reached 4.021 billion U.S. dollars, according to figures of the ministry.
The total trade value amounted to 23.057 billion U.S. dollars during the period, up over 170 million U.S. dollars from the same period of the previous fiscal year.
