Myanmar takes steps to improve trade strategies

Myanmar will take measures to ensure that overseas demand for locally made goods remains elevated even as cheaper imports from the region are expected to rise now that the country will participate further in the ASEAN Free Trade Area (AFTA). This should also keep the country’s trade deficit, which was down to US$627 million in […]

New export strategy launched, but barriers remain

With export revenues having only increased by around US$2 billion over the past five years, Myanmar is aiming to boost its exports in the next five years by adding new sectors to its National Export Strategy (NES). Gems and jewellery, the digital economy, fruits and vegetables, agricultural product-based food products and industrial art products have […]

Aussie survey finds private firms face hurdles in doing business

Red tape and access to skilled labour are significant constraints for businesses in Myanmar, according to a survey by the Australia – Asean Chamber of Commerce. Three-quarters of the respondents to the survey on Myanmar identified government bureaucracy as a significant hurdle while two-thirds identified access to skilled labour as a constraint. Respondents to the […]

Myanmar’s construction industry worth US$13.5bn by 2020

A report by Timetric Construction Intelligence Center (CIC) has found that that over the next five years Myanmar’s construction industry is to grow at a rate of 10.37% over five years. In 2015 the industry’s value was worth Ks9 trillion (US$8.2bn) and is expected to climb to Ks15 trillion (US$13.5bn) in 2020, according to the […]

Renewed Sanctions Authority May Deter NES Implementation

US president Barack Obama’s recent renewal for a year of his authority to maintain sanctions on Myanmar may slow down the progress in implementing the National Export Strategy (NES), a senior official said. The United States eased broad economic sanctions on Myanmar in 2012 to reward its political opening but it still restricts business with […]

Govt to launch Trade Development Council to energize exports

The government announced it will form the Myanmar Trade Development Council in 2015 in a bid to promote exports, according to a report from the International Trade Center (ITC). At present, the German International Cooperation Agency led by the Development of Export Department under the Ministry of Commerce, is providing cash assistance for the National […]

National Export Strategy to Be Ready by 2014

The National Export Strategy (NES) will be drafted by this year in a bid to improve trade and attract foreign investments, according to U Aung Min, in-charge of coordination of the NES. Previously, the government planned to finish drafting the strategy by December last year, but the Ministry of Commerce later asked to include the […]

Government, business leaders discuss Myanmar’s national export strategy

Government ministers and private sector representatives met at a workshop on Tuesday to formulate a national export strategy (NES) aimed at boosting Myanmar’s trade and economic development. The Deputy Minister for Commerce delivered the opening speech at the National Export Strategy for Myanmar workshop in Yangon where he outlined the plan. “The national export strategy […]