Myanmar Awaits Indian Response on Bean Deal

​​ The fate of a nearly million-tonne bean deal remains uncertain as the Myanmar government awaits a response from India to its proposal to sell the beans at the current market price. The Indian government said it wanted to pay a much lower price. The deal concerns the India government’s offer to buy 900,000 tonnes […]

Rakhine Farmers Caught Between Falling Prices and Rising Labour Costs

​​ Farmers associations in Rakhine State – one of the biggest rice producing regions in Myanmar – are calling for government aid amid falling prices, closing markets and a shrinking labour pool. But the state government says it does not have the funds or the expertise to help solve what it says is a nationwide […]

Trade GSP Can’t Make Profit for Myanmar in Short Term

Some 5000 goods from Myanmar have been granted classification under the United States Generalised System of Preferences export scheme, however this will not see a rapid turnaround in profits, say industry figures. The United States trade representative body announced on its official website that preferential tariffs under the Generalised System of Preferences scheme were to be […]

External trade value hit over US$15 billion

The value of external trade as of 28th October in this fiscal year 2016-2017 reached over US$- 15billion, very close to that of last fiscal year, according to statistics from the Ministry of Commerce. The trade value from 1st to 28th October in this fiscal year was US$15,067.626million, and in the same period last fiscal […]

Natural gas core of export activity,followed by garment sector

Natural gas comprises 45 per cent of the export sector, by far the biggest chunk of the market, it is learnt from an announcement released by the Customs Department.The second most exported category is the garment sector, at 17 per cent. The export of natural gas in the 2015-2016 fiscal year fetched over US$4.3billion, whereas […]

Commerce ministry allows re-export licensing for more commodities

The Ministry of Commerce will continue to issue licences for re-exporting because of the foreign market’s demand and the local production process. Over 20 categories of commodities are re-exported to other foreign countries after being locally reproduced at its origin. The main categories of re-export are sugar, fuel oil (diesel) and betel nut. Sugar exports […]

MCB hits upper limit on first day as YSX-listed firm

Trading on the Yangon Stock Exchange has tailed off in recent months, but Myanmar Citizens Bank’s (MCB) listing late last weekshowed there remains huge appetite for new sources of investment. Demand for shares in the lender – the first bank to list on the country’s new bourse – was around 10 times the volume offered. MCB […]

Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players. Aeon has provided most of the US$8.1 million in capital […]

Ministry relaxes import rules for over 250 items

The Ministry of Commerce has published a list of 267 items that can be imported from September without a licence, in the new government’s first step toward liberalising permit requirements. The move builds on liberalisation  by the last government, which had hoped to encourage trade by allowing some products to be sold into the country without […]

Myanmar building materials trade open to local-foreign joint ventures

The Ministry of Commerce has permitted local-foreign joint ventures to trade construction materials with the relaxation on trade restrictions for foreign companies announced recently. “Imported construction materials should meet standards set by the relevant department,” said the announcement. Local-foreign joint ventures need to submit their bank statements when applying for a license and they must […]