Problem loading custom template tags (Error: No module named x)

I am currently writing a few custom template tags but for some reason they will not load. My directory structure is as follows:

MyProj
 |
 ----MyApp
     |
     |----templatetags
          |
          |----myapp_tags.py
          |----__init__.py

In myapp_tags.py

from django.template import Library, Node
from myproj.myapp.models import Product

register = Library()

class LatestProductsNode(Node):
    def render(self, context):
        context['recent_products'] = Product.objects.all()[:5]
        return ''

def get_latest_products(parser, token):
    return LatestProductsNode()

get_latest_products = register.tag(get_latest_products)

In settings.py

INSTALLED_APPS = (
    'django.contrib.auth',
    'django.contrib.contenttypes',
    'django.contrib.sessions',
    'django.contrib.sites',
    'django.contrib.admin',
    'myproj.myapp',
)

In the Template

{% load myapp_tags %}

The error i get when trying to load the page:

Exception Type:     TemplateSyntaxError Exception Value:    

'myapp_tags' is not a valid tag library: Could not load template library from django.templatetags.myapp_tags, No module named myapp_tags