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Post-Brexit UK to keep Myanmar’s trade preferences

Boris Johnson’s government says Britain will maintain Myanmar’s access to the UK market after Brexit goes ahead, whether or not the EU decides to withdraw trade preferences because of human rights violations. “Regardless of how we exit the EU in October, the UK is committed to maintaining GSP [Generalised Scheme of Preferences] standards for Myanmar […]

Creation of new ministry part of Myanmar’s plan to incentivise FDI

In an attempt to reverse a recent decline in foreign investment, Myanmar has set up a new ministry tasked with attracting and facilitating fresh inflows, though concerns over the re-imposition of import tariffs by the EU could cool investor appetite. On November 19 the government established the Ministry of Investment and Foreign Economic Relations, a […]

Frontier Markets Investment Portfolio: A Mining Site in Northern Myanmar

Asia Frontier Capital’s Regional Investment Analyst Scott Osheroff recently traveled to northern Myanmar to visit the mine site of one of its portfolio companies. Myanmar – Liberalization begins to unfold The National League for Democracy (NLD) seems to have potentially finally come to the realization that the economy is suffering and therefore that their party […]

Myanmar RMG units exporting to EU rose by 180 in 5 yrs22

The number of readymade garment (RMG) factories in Myanmar that export products to the European Union (EU) has increased by 180 within five years from 22 in 2013 to 202 now, primarily due to benefits offered by the EU’s generalized system of preferences (GSP), according to Aung Naing Oo, director general of department of investment […]

Rice export declines within eight months

Myanmar only exported over 1.5 million tons of rice and broken rice within eight months from April 1 till December 14, according to Myanmar Rice Federation (MRF). Myanmar earned about US$288 million from more than 800,000 tons of rice and broken rice export through border trade routes and over US$240 million from over 700,000 tons […]

EU’s withdrawal of GSP not to affect foreign investment flow in Myanmar: official

YANGON, Oct. 28 (Xinhua) — The European Union (EU)’s probable withdrawal of its Generalized Scheme of Preference (GSP) will not impact the foreign investment flow in Myanmar, the official Global New Light of Myanmar quoted an investment administration official as saying Sunday. This will be due to the fact that EU countries have never been […]

New Minimum Wage Brings Trouble to Garment Industry: Garment Association President

The new minimum wage is causing trouble for the garment industry, U Myin Soe, President of Myanmar Garment Manufacturers Association, said during a press conference held on July 10 at UMFCCI. “We all know that the new minimum wage is now set at K4,800. It’s a 33 percent hike compared to the previous wage of […]

Emerging countries struggle to grow EU market share of garment

Garment exporters in developing countries are being actively encouraged to seek European orders through various trade agreements, government policies and foreign assistance. But there is also frustration that successful export countries continue to enjoy preferential treatment. Hundreds of garment exporters, most of them from Asia, were looking to pick up European orders at the semi-annual […]

EU displaces Japan as Myanmar’s Largest Apparel Market

After the reinstatement of Generalised Scheme of Preferences (GSP) rights to Myanmar, orders from European Union have been increasing, and it has now become the top market for Myanmar’s cut-make-pack (CMP) garment sector. This has reduced Myanmar’s heavy dependence on Japan for its CMP exports, according to Myanmar Garment Entrepreneurs’ Association. “In the past the […]

Thai Investors Urged to Expand in Neighbouring Countries

Labour-intensive industries, agricultural processing, electricity, garments, hospitality, retail, and spa are potential sectors where Thai investors can expand their investments in CLMV (Cambodia, Laos, Myanmar, and Vietnam), private experts who have invested in the CLMV countries said. “We welcome Thai investors to expand their investment in agriculture, organic farmer, energy, tourism, and hospitality business,” Phouvong […]