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Business news from Myanmar (6 Octob



Subject: Business news from Myanmar (6 October 1999) 

MyaBuzz
Business news from Myanmar (6 October 1999)

C O N T E N T S
1006-01 Myanmar Into AFTA By 2018
1006-02 Japanese Economic Mission To Promote Trade
1006-03 Mei Sot Industries To Move To Myanmar Border Town
1006-04 Hong Kong's Investment In Myanmar To Go Up
1006-04 Hong Kong's Investment In Myanmar To Go Up
1006-06 Diplomatic/Foreign/Economic Relations
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1006-01 Myanmar Into AFTA By 2018
**ASEAN Economic Ministers (AEM) meeting was held in Singapore from 27th
September to 2nd October.

A Myanmar delegation led by Minister for ASEAN Economic Affairs attended
the meeting. The 13th ASEAN Free Trade Area (AFTA) meeting was also held in
Singapore in conjunction with the AEM meeting, ASEAN economic ministers
agreed upon the detail programs for creating free trade area.

Myanmar agreed to reduce its tariff on goods imported from ASEAN countries
with tariffs ranging from zero to 5% by the Year 2005.The six ASEAN
countries: Thailand, Malaysia, Indonesia, the Philippines, Singapore and
Brunei will gradually reduce their tariff on ASEAN goods to 0% by the year
2015. Four new ASEAN nations Vietnam, Laos, Myanmar and Cambodia will
follow suit by the year 2018.

The 10 ASEAN economic ministers also signed a Protocol on Sensitive And
Highly Sensitive Products, which will tackle reducing tariff on unfinished
agricultural goods.

1006-02 Japanese Economic Mission To Promote Trade
**A 31 member Japanese economic mission is currently in Yangon. On 4th
October the mission discussed the matters relating to Myanmar investments,
transfer of technology, establishment of factories and opportunities for
promoting bilateral trade.  These were discussed with the officials of
Myanmar's Chamber of Commerce.

The economic mission represents the Tokyo based Sanshin Do-Yu Kai Group.
Bilateral trade between two countries reached its peak in 1996. That year
Myanmar imported US$ 254 million worth of goods from Japan and Myanmar
export figure to Japan that year was 102.9 million.

1006-03 Mei Sot Industries To Move To Myanmar Border Town
**Myanmar authorities and Thai industrialists from Mei Sot (area close to
the Myanmar-Thai border) met to make arrangements for shifting factories of
Mei Sot to the Myanmar border town of Myawaddy.

The increasing infrastructure development and cheaper labour might have
forced the industrialist to take such move.

The Myawaddy Town is situated in Myanmar's Kayin province, east of Yangon.

1006-04 Hong Kong's Investment In Myanmar To Go Up
**Kerry Investment Management of Hong Kong met with the head of Myanma
Investment in Yangon on 3rd October.

The topic of discussion was mainly to lay down programs to increase Hong
Kong's investment in Myanmar and to create more opportunities of investment
in Myanmar.

Hong Kong, according to the Myanma Investment Commission, currently has 20
enterprises invested in Myanmar with a total invested amount of over US$
120 million.

1006-05 Myanmar Travel Agency Get International Recognition
**A Myanmar Travel Agency, Columbus Travels and Tours get membership to the
International Air Transport Association (IATA).

This is the first time that a Myanmar travel agency attains such
membership. Columbus Travels and Tours agency is a representative of Thai
based Golden Pyramid Services Co., Ltd and operates Package and Special
tours as well as worldwide ticketing.

1006-06 Diplomatic/Foreign/Economic Relations
**This week's diplomatic, foreign and economic relations news are as
follows:
1. Last week newly appointed ambassadors of Turkey and Germany presented
their credentials to the Myanmar's Head of State. Meanwhile Myanmar
established diplomatic relations with the former Soviet central Asian
republic of Tajikistan at ambassadorial level.
2. Cambodia's envoy in Myanmar met with the Minister for Industry 1 in
Yangon on 27th September to discuss bilateral economic cooperation. As
ASEAN colleagues Myanmar and Cambodia have common economic goals to achieve
within the ASEAN framework. Minister for Industry-1 on 27th September also
met with the visiting President of China's Pengfei Group Company in Yangon
to discuss the business matters.
3. A service pact was exchanged between the Myanmar and Thai authorities.
Myanmar Post and Telecommunications entered into agreement with the
Thailand's Telephone Organizations Of Thailand, and Shinawatra Satellite
Public Company Limited. The signing ceremony was held in Yangon on 27th
September. The signing of the agreement will pave the way for extending IDD
(International Direct Dialing) Intercommunication between two countries.
4. Myanmar's ASEAN Economic Affairs Minister will represent Myanmar at the
31st ASEAN Economic Minister (AEM) meeting to be held in Singapore from 27
September to 2nd October. ASEAN Investment Regional Council meeting will
also be held in Singapore on 29th September, Secretary of Myanma Investment
Commission attended the meeting.
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Simon Billenness
Senior Analyst
Trillium Asset Management
711 Atlantic Avenue, Boston, MA 02111
(617) 423-6655, x225
(617) 482-6179 - fax
sbillenness@xxxxxxxxxxxxxxxxxx
http://www.trilliuminvest.com/