International Trade in Myanmar

News Related to International Trade in Myanmar

• MTN pushes to secure Myanmar licence - May 21, 2013

  MTN pushes to secure Myanmar licence

  Source: IT News Africa

• Obama urges Myanmar to stop violence against Muslims - May 21, 2013

  WASHINGTON (Reuters) - President Barack Obama urged the president of Myanmar on Monday to take steps to halt violence against Muslims in his country and move ahead with economic and political reforms.Related StoriesChief Palestinian peace negotiator backs Kerry's effortsCouncil of Europe tells Putin of concern over Russian NGO lawU.S. says concerned with charges against Egyptian journalistsMonster tornado devastates area near Oklahoma CityLibya war weapons may be killing central Africa elephants - U.N.

  Source: Reuters

• Obama walks a fine line with Myanmar president's landmark visit - May 20, 2013

  WASHINGTON (Reuters) - President Barack Obama will walk a fine line between fostering a U.S. ally in China's backyard and trying to defend human rights when the president of Myanmar becomes the first head of his country to visit the White House in 47 years on Monday.Related StoriesOne killed in northern Lebanese city of TripoliInsight - Despite curbs, China's vast hot money triangle flourishesExclusive - Bangladesh factory banned by Wal-Mart still makes Wrangler shirtsMilitants kill 10 Iraq policemen in checkpoint attacksIndonesia's nationwide healthcare plan stumbles at first hurdle

  Source: Reuters

• UN assesses low damage from weakened Cyclone Mahasen in Bangladesh, Myanmar - May 18, 2013

  United Nations agencies and partners are assessing parts of Bangladesh and Myanmar after Tropical Cyclone Mahasen hit land today, weakened and dissipated, leaving behind less damage than originally feared.

  Source: United Nations

• Myanmar commences mango, watermelon export to Singapore - May 17, 2013

  Myanmar exported mangoes and watermelons for the fist time to Singapore last week, according to Myanmar Fruit and Vegetable Producers and Exporters Association.Myanmar started mango export to Singapore on May 7, said Lei Lei Oo, Vice Chairperson of Myanmar Fruit and Vegetable Producers and Exporters.....

  Source: FreshPlaza

• UN agencies helping Bangladesh, Myanmar prepare for Tropical Cyclone Mahasen - May 16, 2013

  United Nations aid agencies are working with the Governments of Bangladesh and Myanmar to prepare for Tropical Cyclone Mahasen, which is expected to make landfall within the next 24 to 36 hours, possibly threatening millions of people across the region.

  Source: United Nations

• Heineken signs deal to sell beer in Myanmar - May 15, 2013

  AMSTERDAM--Dutch brewer Heineken NV HEIA.AE said Monday it has signed a joint venture agreement with privately-owned Alliance Brewery Company Ltd to brew and sell Heineken beers in Myanmar. MAIN FACTS: - Heineken, through its subsidiary Asia Pacific Breweries Limited, will have a controlling 57% stake in the new joint venture company, called APB Alliance Brewery Company Limited, and be responsible for overall management, providing brewing and technical expertise, procurement of ingredients and the licensing of brands, the company said.

  Source: MarketWatch.com

• MYANMAR: Heineken plans US$60m brewery with JV deal - May 14, 2013

  Heineken is to build a US$60m brewery in Myanmar as part of a new joint-venture in the country.

  Source: Just Drinks

• MYANMAR: Heineken leaves Tiger beer with Fraser & Neave - May 14, 2013

  Fraser & Neave will continue to operate Heineken's Tiger brand in Myanmar for at least five years despite the Dutch brewer launching a JV in the country.

  Source: Just Drinks

• Heineken follows Carlsberg into Burma with $60m brewery build - May 14, 2013

  Heineken has signed a JV to produce and sell Heineken beers in Burma (Myanmar), and plans to build a $60m brewery there, following Carlsberg, Coke and Pepsi into the country.

  Source: Beverage Daily

• Tropical cyclone could threaten refugees in Myanmar. - May 13, 2013

  A tropical cyclone in the Andaman Sea is headed close to an area in Myanmar where tens of thousands of victims of ethnic and religious violence are living in makeshift camps, adding urgency to fears of what the United Nations has termed a looming ??humanitarian catastrophe.?

  Source: Environmental Health News

Business outline for Myanmar

Economic Overview

In 2010, the economic growth reached 5.3%, thanks to a growth in agricultural production, the development of exports and the good performance of the construction and tourism sectors. 

Despite having a sub-soil rich in hydrocarbons (gas and oil) and precious stones (this sector alone represents 40% of the exports), the country suffers from a certain number of weaknesses affecting its economic development; the economy remains centered on agriculture and the industrial sector is not very developed (10% of the GDP). Myanmar also has a very high inflation rate, a budget deficit and multiple official exchange rates which overvalue the national currency. The government is planning to accelerate and expand the process of privatisation which was initiated in 2005. 

The country's socio-economic conditions have deteriorated in recent years, due to the fact of the military regime's bad management of the economy. Poverty abounds, especially in rural areas and the rate of unemployment nears 10%.

FDI in Figures

Foreign investment has declined since 1999 due to the increasingly more unfriendly business environment and political pressure exerted by Western consumers and shareholders.

Other factors that reduce Myanmar's attractiveness in terms of FDI are corruption, the inadequacy of its infrastructures and its poor international image, which has been damaged by violations and disrespect for democratic principles. Moreover, the State remains heavily involved in most sectors of the economy. The country also faces the problem of drug trafficking. Despite the strengthening of the measures implemented by the government in recent years, the country remains the world's second biggest producer of opium.

Nevertheless, the country has some attractive sectors, which attract most of the foreign investments: oil production, natural gas extraction, mining and timber.

The country enjoys good trade relations with its Asian neighbors, on whom it is entirely dependent. The main investor countries are Thailand, India, China and Japan.

Foreign Trade Overview

Generally, foreign trade is under State control. Although the trade policies are aimed to liberalize the market, they remain unpredictable and dependent on the country's political climate.

Customs duties are low and with the exception of government controls, there are few non-tariff trade barriers. The government protects foreign trade by limiting imports and promoting exports. Trade sanctions imposed by the USA and the EU are major hindrances to trade.

Despite all this, Myanmar has recorded a trade surplus, thanks to exports of raw materials. The trade balance is expected to remain positive in the next years, despite a slight reduction in trade. The official statistics are largely underestimated because of the existance of a significant informal economy.  

The country's main trade partners are the ASEAN members (Association of South East Asian Nation), China and India. The country imports material (textile), petroleum products, fertilizers, plastics, machinery, transport equipment, cement, construction material, crude oil and foodstuff from China, Thailand, Singapore, South Korea, Malasia and Indonesia. The main export products are natural gas, timber, vegetables, fish, rice, clothes and precious stones to Thailand, India, China and Japan.