Myanmar Trade Agreements

No Comments

The EU works closely with ASEAN as a whole. For example, the EU-ASEAN Trade and Investment Work Programme outlines measures for rapprochement between the two regions and regularly maintains discussions between ministers and senior officials on trade and investment. The United States and Burma regularly engage under the 2013 Trade and Investment Framework Agreement (TIFA) between the United States and Myanmar, which created a platform for ongoing dialogue on trade and investment issues between the two governments. Under the TIFA, the two governments are cooperating to identify initiatives that support Burma`s ongoing reform process and related development activities. In November 2016, the United States again considered Burma a preference under the Generalized System of Preferences. The Republic of the Union of Myanmar is considered a low-income country in Southeast Asia. Due to decades of national military dominance and international economic sanctions, Myanmar has limited trade integration with the global market. The main exports are primary goods, including agricultural and forestry products, precious stones and live animals, as well as emerging gas exports, while imports of petroleum, iron and steel products and their products are dominated. Nevertheless, between 1992 and 2010, the real GDP growth rate remained at around 5% between 1992 and 2010, which is well below the regional average (Bertelsmann Siftung 2014); WTO 2014). The lack of capital, regulatory and technological capacity and infrastructure remains the main obstacle to Myanmar`s development. Since 2010, Myanmar has taken steps to reform its business environment and integrate regionally and globally. Its reforms have taken into account broader support from the international community.

The GSP Regulation provides that trade preferences may be suspended in the event of a “serious and systematic breach of the principles” set out in the human rights and labour law conventions listed in Annex VIII to the Regulation. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S. companies to get more information on how to use these agreements. Since 2011, the EU has gradually reconnected with Myanmar, including in its trade and investment relations. As a member of ASEAN, Myanmar participates in all intra-ASEAN agreements as well as multilateral free trade agreements with Australia, New Zealand, China, India, Japan and South Korea. The ASEAN Free Trade Area (AFTA) was established in 1998 in Myanmar with the aim of eliminating tariffs on all tariff lines by 2018. Free trade agreements (FTAs) have been signed with China, Hong Kong, Japan, Korea, India, Australia and New Zealand. Myanmar has bilateral trade agreements with Bangladesh, Sri Lanka, China, South Korea, Laos, Malaysia, India, the Philippines, Thailand and Vietnam in Asia, as well as with a number of Eastern European countries. Le Myanmar est membre de l’OMC et de la Bay of Bengal Initiative for Multi-Sector technical technical and Economic Cooperation (BIMSTEC).

. . . .

Comments are closed.