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China to increase Myanmar’s rice export quota to 400,000 tonnes: MOC

China has agreed to import 400,000 tonnes of rice from Myanmar via sea, increasing its import quota for Myanmar rice from 100,000 tonnes currently, U Khin Maung Lwin, assistant secretary from the Ministry of Commerce (MOC), told The Myanmar Times. “Rice can be shipped to China soon,” he said. The development comes after the two […]

Myanmar rice exports face backlash in African market

The Myanmar Rice Federation (MRF) guaranteed the quality of Myanmar-produced rice after the Ivory Coast last week said it had destroyed over 18,000 tonnes of rice originating from Myanmar, deeming the produce unfit for human consumption. Three Myanmar companies had sold over 20,000 tonnes of rice to Singapore-headquartered Olam International Co Ltd. The cargo left […]

Trade laws protecting local producers now being drafted: MOC

The Ministry of Commerce (MOC) is drafting new trade laws to safeguard local producers while promoting exports of domestically-produced goods, Minister of Commerce U Than Myint said. Due to the lack of investments and technology, Myanmar producers face stiff competition from their regional peers, who are able to manufacture at faster speeds and lower costs […]

Myanmar aims to increase trade with South Korea

Myanmar will raise efforts to boost trade with the Republic of Korea, said U Aung Soe, Permanent Secretary of the Ministry of Commerce (MOC) during an event to promote local agriculture exports to South Korea on February 16. The event was hosted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]

Government prohibits import of frozen meat at Thai border

The import of frozen meat at the Myanmar border will be prohibited from March 1 onwards, U Khin Maung Lwin, assistant secretary of Ministry of Commerce (MOC), told The Myanmar Times. The border ban includes all forms of frozen meat, including red meat, fish and marine produce. However, importing via sea routes is still permitted. […]

Businesses warn govt not to backtrack on retail and wholesale reform

AMID news that the commerce ministry might backtrack on the retail and wholesale sector reform and impose further restrictions on foreign investments, business leaders warn that any such retraction will be “extremely disappointing” and seriously derail efforts to attract foreign investments for the country. The ministry insisted that they currently have no plans for additional […]

Alibaba secures foothold in Myanmar market, growth in e-commerce expected

Alibaba group has established a foothold in Myanmar following the acquisition of Daraz Group, the Pakistani online shopping platform which operates Myanmar e-commerce site shop.com.mm. The move could be the start of a slew of investments in the country by the Chinese Internet giant as well as other rival businesses. It also came just a […]

Collier Property Report – Yangon Condominium Q1 2018

Clarity on Reforms to Facilitate Market Growth Caused by the slim volume of units launched in Q1 2018, the citywide take-up rate observed a modest increase. While Colliers recognises these minor market improvements, structuring a systematic and efficient reforms will further help the sector realise a more sustainable progress and regain the lost confidence from […]

Tanintharyi’s fisheries potential marred by illegal exports

Although fishing and marine products make up the bulk of Tanintharyi Region’s GDP, illegal exports have for years deterred the industry’s potential for growth. Without new policies and oversight, authorities warn that Myanmar will continue losing millions worth of valuable fisheries exports to illegal traders in neighbouring Thailand. Myanmar fisheries play an important role under […]