Myanmar Launching Ceremony for Providing Cross-Border Motor Vehicle Insurance through ASEAN Compulsory Motor Insurance System
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According to the implementation of the ASEAN Framework Agreement on the Facilitation of Goods in Transit (AFAFGIT), Myanma Insurance, National Bureau of Insurance of Myanmar, has successfully completed in connection the ASEAN Compulsory Motor Insurance (ACMI) system with Myanma Insurance Web Portal on December 4, 2023. Myanmar is one of four countries that have successfully connected to the ACMI system together with Thailand, Singapore and Vietnam.
On January 13, 2024, Myanma Insurance, National Bureau of Insurance of Myanmar, officially announced the successful completion of ASEAN Compulsory Motor Insurance (ACMI) system.
“The successful completion of ASEAN Compulsory Motor Insurance (ACMI) system can bring saving time and money for the transit transport operators among ASEAN member states and can find state income more. The road-victims who are death and injuries due to the cross-border vehicles can get financial support from Myanma Insurance. This completion will benefit not only for ASEAN member states but also for the people.” Said H.E Mr. Win Shein, Deputy Prime Minister and Minister of Planning and Finance at the Launching Ceremony of the Cross-Border Motor Vehicle Insurance.
