Bid to boost Myanmar shrimp trade begins

“We usually import broodstock from Thailand. But, possibility for the broodstock to suffer some diseases is truly a major risk to our shrimp production. Now we are about to start sustainable shrimp farming with the help of a firm from the United States,” he said. According to Kyaw Tun Myint, Myanmar entrepreneurs in the industry […]

KBZ Bank opens settlement account in US

Kanbawza Bank (KBZ Bank) Limited, part of the KBZ Group of companies, announced yesterday that it has opened a USD settlement account with international bank Sumitomo Mitsui Banking Corporation’s New York branch (SMBC New York), to offer streamlined remittance services that enable faster, more convenient trade financing and transactions between Myanmar and the United States, […]

China-led AIIB plans to limit investment in coal power

In a bid to live up to its environmentally friendly values, the Asian Infrastructure Investment Bank (AIIB) is planning to adopt strict limits to investment in coal power. Launched by China as a “lean, clean and green” lender to invest in infrastructure projects in Asia, the AIIB opened for business a year ago with 57 […]

Electronic ID cards being issued in pilot project areas

The Ministry of Labour, Immigration and Population has started issuing smart identity cards in Mandalay and the capital Nay Pyi Taw as a pilot project. As part of an e-government development programme, the ministry is now implementingthe pilot project in target areas to substitute the current paper national registration card with a smarter digital identification […]

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 […]

US and Myanmar agree to game-changing initiatives

In addition to the lifting of US sanctions on Myanmar that came as a result of a historic meeting at The White House yesterday between US President Barack Obama and State Counsellor Daw Aung San Suu Kyi, there will be several other initiatives that were agreed upon in Washington, including global health security and improved […]

Ahead of Suu Kyi visit, Obama weighs Myanmar sanctions relief

The United States is considering further easing or lifting sanctions against Myanmar around the time of a White House visit this month by the country’s new leader, Aung San Suu Kyi, U.S. officials told Reuters. President Barack Obama is expected to decide on the extent of the sanctions relief after consultations between Suu Kyi and […]

With Sanctions Eased, US Sees Economic Potential in Myanmar

STATE DEPARTMENT — U.S. officials are looking to boost economic engagement with Myanmar, a country that has been dubbed by some as “the final frontier” because it is one of the last markets largely untouched by Western companies. The United States imposed heavy economic sanctions on Myanmar in 1997 over the ruling military junta’s repression […]

US approves $21m assistance to Myanmar

YANGON – The United States will provide an additional US$21 million (Bt730 million) in assistance to Myanmar, to promote economic growth and capacity building for long-term development in the country. The initiative will support the government’s goal of tripling exports in five years; strengthen the ability of the government and the legal system to provide […]

US human trafficking report blacklists Myanmar

WASHINGTON: The United States on Thursday blacklisted eight more countries for failing to combat human trafficking, including fledgling democracy Myanmar, but was criticised for taking an easier line on Thailand. Announcing the release of the State Department’s annual human trafficking report, Secretary of State John Kerry insisted the rankings were based on objective criteria, and […]