Myanmar will strive to implement RCEP trade deal, says State Counsellor

The Regional Comprehensive Economic Partnership (RCEP) agreement will bring investments into Myanmar and create jobs but is expected to heighten competition for small enterprises, business people say. The RCEP, the world’s largest free trade agreement, was signed by Myanmar and 14 other Asia-Pacific countries on Sunday. It covers the 10 member states of the Association […]

Myanmar raises trade target, aims to grow agri-exports this year

Myanmar is forecasting higher trade volumes in fiscal 2020-21 compared to the previous year despite potential setbacks from COVID-19, said U Khin Muang Lwin, assistant secretary from the Ministry of Commerce under the National League of Democracy government. The ministry is expecting trade volumes to reach US$34.7 billion in the current fiscal year, with exports […]

What Does the RCEP Trade Agreement Mean for Myanmar?

YANGON—Myanmar has joined China, Japan and 12 other nations in forming the world’s largest free trade zone—accounting for about 30 percent of global GDP—hoping the deal will boost trade by drawing investment to the region, expand local SMEs’ access to global manufacturing networks and support the country’s post-COVID-19 economic recovery. A long-delayed accord, the Regional […]

Border Trade Authorities Wary of Myanmar’s COVID-19 Second Wave

Since a recent spike in infections, border authorities in China and Thailand have tightened restrictions on trade with Myanmar.Amid Myanmar’s COVID-19 second wave, the Chinese and Thai authorities have been unilaterally applying restrictive policies at major border gates. Of concern for the Myanmar side, the measures – which are mainly detrimental to its traders – […]

Myanmar moves more trade functions online

MyanTrade, Myanmar’s trade promotion agency under the Ministry of Commerce, on October 21 launched a new website – www.myantrade.gov.mm – to better promote trade between local businesses and their international counterparts. The website’s key features and functions include information, guidelines and live chats for local businesses wanting to expand overseas and for foreign traders looking […]

Vietnam Eases Border Trade Restrictions With China to Help Virus-Hit Businesses

HANOI/LANG SON—Vietnam has eased restrictions on cross-border trade with China to prop up economic activities hit by the new coronavirus, the Ministry of Industry and Trade said on Thursday. China is Vietnam’s largest trading partner and the Southeast Asian country’s manufacturing sector relies on it for materials and equipment. China is also Vietnam’s key market […]

Myanmar conduit for wildlife trade with China as questions swirl over its role in virus panic

China’s deadly illicit trade in wildlife has been thrown into stark relief as Beijing recently announced a temporary ban on the sale of wildlife in the wake of the outbreak of the coronavirus in Wuhan that is suspected to have originated in the city’s wet market. While the focus is on demand in China for […]

Myanmar to initiate measures to improve trade strategies

Myanmar will take measures to raise overseas demand for indigenous goods 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 $627 million in fiscal 2019-20 from $5.2 billion […]

Myanmar-Thai border trade set to continue growing this year

Border trade between Thailand and Myanmar is set to increase this year thanks to the second Thai-Myanmar Friendship Bridge and the implementation of Cross Border Transport Facilitation Agreement (CBTA). The second Thai- Myanmar Friendship bridge connecting Myawady in Myanmar and Mae Sot in Thailand opened in October of 2019. Meanwhile, the CBTA, which also came […]

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 […]