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EU puts Myanmar on money-laundering blacklist

The European Commission has added Myanmar to its list of states that pose high risks to the bloc’s financial system today (May 7) because of anti-money laundering and terrorism financing deficiencies. Cambodia, Barbados, Botswana, Ghana, Jamaica, Mongolia, Nicaragua and Zimbabwe are also included in the latest EU listing. Laos, Bosnia-Herzegovina, Ethiopia, Guyana, Sri Lanka and […]

Virus outbreak in EU may impact Myanmar garment exports

The spread of COVID-19 to some EU countries could impact demand for Myanmar-produced garments even as the supply of Chinese raw materials involved in the process becomes less volatile, said Daw Khine Khine Nwe, secretary general of the Myanmar Garment Manufacturers Association. More than 70 percent of Myanmar’s garment products are exported to the EU. […]

EU to send another monitoring mission to Myanmar, ambassador says

An EU monitoring mission is expected to visit Myanmar again before this summer following the EU commission’s decision to withdraw Cambodia’s market privileges in mid-February. Kristian Schmidt, the EU ambassador to Myanmar, told The Myanmar Times in an exclusive interview that he expects the mission to arrive before summer with an aim to examine and […]

‘EU to continue engaging with Myanmar under EBA trade-preference initiative’

The European Union (EU) says it will continue to engage with countries, including Myanmar, that fall under its Everything But Arms (EBA) trade initiative. EBA is an initiative under which all imports to the EU from the Least Developed Countries are duty-free and quota-free, with the exception of armaments. The initiative is part of the […]

EU to boost garment industry in Myanmar

The new phase of the European Union’s SMART Textile and Garments project will bring together brands, trade unions and business associations to boost social and environmental sustainability in Myanmar’s garment industry. The project, funded by the EU, was officially launched in Myanmar last Friday. The SMART Textile and Garments project will work with more than […]

Local Company Wins Gold Medal for Locally Produced Honey

Local company Smile Happy Co Ltd received recognition from the International Federation of Beekeepers’ Associations at the World Beekeeping Awards held during the 46th Apimondia Congress that took place in Montreal, Canada, in September. The company won a gold medal for its light-coloured honey during the event. “The company won the medal in Montreal for […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

Myanmar to reduce use of child labour at workplaces

Though more than 600,000 children are still engaged in work that harms their health, safety and well-being, Myanmar is trying to implement a national-level project to eradicate child labour, Nyunt Win, director-general of the factories and general labour laws inspection department, said. “Myanmar is undertaking several reforms in multisectoral development and the labour, immigration and […]

Amnesty for Reuters reporters seen easing EU trade tensions

The release of two Reuters reporters and some 20 other political prisoners may help ease tensions with the EU but the government will need to do more to maintain Myanmar’s trade privileges, according to business leaders in Yangon. Wa Lone and Kyaw Soe Oo, jailed for more than 500 days, were freed on May 7 […]

Associations in Myanmar

I was recently in a mission in the Myanmar capital city of Yangon for my organization, the Association of Development Financing Institutions in Asia and the Pacific, to conduct briefings on the green lending policy framework that ADFIAP has developed for the Myanmar Bankers Association (MBA). This is part of the European Union (EU) grant […]