New US trade preferences highlight challenges for Myanmar exporters

Myanmar’s business sector has welcomed US plans to lift almost all remaining sanctions against the country and reinstitute special trade preferences, but some industries could find it hard to take advantage of the new environment. US President Barack Obama announced this week that he intends to lift the state of emergency the US declared against Myanmar in […]

Central Bank raises exchange rate to meet the market price

The Central Bank of Myanmar has rapidly increased its rate for US dollar-kyat conversion over the last week, nearly catching up with the market rate. The Central Bank had left its official rate at K1027 per US dollar since February, though the rate charged by most money lenders and increasingly by commercial banks had climbed […]

Planned Electricity Price Increase Sparks Concern Among Businesses

Business owners and households say they are concerned about the government’s plan to raise electricity prices next month, when rates are set to significantly increase, in some cases with up to 100 percent. On Tuesday, the Yangon City Electricity Supply Board (YESB) announced that households that consume more than 101 units of electricity per month […]

Fish exporters not ready for EU

Confusion about Myanmar’s readmission into the European Union’s generalized scheme of preferences on June 12 is handicapping efforts by exporters to re-enter the market, industry executives said last week. A spokesperson for the Myanmar Fishery Products Processors and Exporters Association told The Myanmar Times that the impact of duty-free access to Europe on domestic exporters […]