On 19 July 2013, Myanmar/Burma’s reinstatement in the EU’s Generalised System of Preferences (“EU GSP”) will take effect and apply retrospectively from 13 June 2012. All products ‘originating’ in Myanmar, except ammunition and arms, will benefit from full duty-free and quota-free access to the EU market.[1] Claims for refunds of duty paid on imports from 13 June 2012 will be possible in certain circumstances. Myanmar/Burma’s reinstatement comes less than three months after the EU’s decision…
Our March 2013 International Trade Compliance Update had a link to the Client Alert entitled, New Foreign Investment Regulations – Part 1 which was prepared by our Myanmar Center. The Myanmar Center has now prepared a second Client Alert, New Foreign Investment Regulations – Part 2, which analyzes the Myanmar Foreign Investment Law 2012 (FIL) rules. The second Client Alert focuses on Notification 11/2013 issued by the Ministry of National Planning and Economic Development (the…
The Pyidaungsu Hluttaw (Union Assembly) of Myanmar enacted a number of important laws in 2012 including needed reforms of labor laws, foreign exchange, and environmental conservation. The law that garnered the most attention, by far, was Myanmar’s long awaited new Foreign Investment Law (FIL) which came into effect on November 2, 2012, with a number of amendments suggested by President Thein Sein being incorporated in the version passed into law. The FIL clarifies some issues…