Foreign automotive parts suppliers are seeking to enter Myanmar to cater to the growing need for spare parts, a Union of Myanmar Federation of Chambers of Commerce and Industry official said last week.
U Myo Thant, a member of the federation’s central executive committee, said demand for auto parts is accelerating and that foreign suppliers are welcome in the market.
“More and more cars are being imported. When they arrive here they look new to us but many have been on the road for at least five years. Clearly, we are going to need to secure parts to repair these vehicles. It’s a good time for
suppliers to enter the market,” he said at a trade fair at Tatmadaw Hall in Yangon’s Dagon township.
Judy Wang, executive director of Hong Kong-based Yorkers Trade and Marketing Service, an organiser of the fair, said suppliers from Asia and the United States are seeking local representatives to distribute parts in Myanmar.
“The majority of cars on the road here are secondhand and will parts will be needed to repair them,” she said.
The EMMA Fair Myanmar 2013 comprises 120 exhibitors from seven nations showing 2500 products, including electronics, hydraulic equipment, motors and pumps, machinery and parts. Sixty percent of the products are for vehicles.
Source: Myanmar Times