Foreign trade value reaches US$13 billion, with over 1.7 billion in deficit

The external trade value as of 7th October in this fiscal year hit over US$13 billion, with a trade deficit of over 1.7billion, it is learnt from statistics of the Ministry of Commerce. The value of foreign trade from 1st April to 7th October in this fiscal year amounted to US$13,607.140million, which was down from […]

Myanmar to mull tariff cut for Taiwan’s fabrics following an economic summit

TAIPEI — Myanmar has agreed to study the possibility of lowering its tariffs on imported Taiwanese fabrics, a move seen as a goodwill gesture following an economic dialogue held by Taiwan and Myanmar, the Ministry of Economic Affairs said Saturday. A Taiwanese delegation led by Yang Jen-ni (楊珍妮), head of the MOEA’s Bureau of Foreign […]

EU investments set to surge after protection deal

Investments from the European Union member countries are likely to surge after signing of the EU-Myanmar investment protection agreement, said a senior EU official. Antonio Berenguer, EU’s head of trade and economic affairs, said that the agreement would encourage investment from Europe by improving legal certainty and predictability surrounding investments. “This agreement aims to provide […]

Myanmar to draft two new investment laws

Japan remains committed to Myanmar Japanese companies invested US$22.8 billion in Singapore, Thailand, Indonesia, Malaysia, the Philippines and Vietnam in 2013, according to the Japan External Trade Organisation (JETRO). The trend is strong, following the first wave of Japanese investment in the 1980s and 1990s, which helped build up automotive and electronics sectors in Thailand, […]

Myanmar earns US$5 billion from foreign trade

From April 1 to July 4, Myanmar’s foreign trade through land and maritime routes has amounted to more than $5 billion, an increase of $1 billion from the same period last year, according to the Ministry of Commerce. The exports totalled $1.8 billion and the imports were worth $3.4 billion. The maritime trade accounted for […]

Foreign trade to increase to US$35 billion this year

Myanmar aims to raise its foreign trade volume by US$10 billion during the current 2014-15 fiscal year, according to the Ministry of Commerce. Myanmar’s foreign trade volume gone has from US$15 billion to US$25 billion in three years. “We intend to increase it to US$35 billion this fiscal year,” said Minister of Commerce Win Myint. […]

Burma to Allow Foreign Banks to Begin Some Operations Next Year

Ground clearance and basic infrastructure preparation work has begun on an industrial estate inside the Thilawa Special Economic Zone, said the Japanese Kyodo News agency. A ceremony marking the start was attended by Japan’s Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation plus nine Burmese business partners and Naypyidaw government representatives, said Kyodo. Mitsubishi, Marubeni and […]