Burma's economic relations with the region

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Description: Link to the OBL Regional dynamics section
Source/publisher: Online Burma/Myanmar Library
Date of entry/update: 2017-04-19
Grouping: Websites/Multiple Documents
Language: English
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Sub-title: Experts say the move will do little to control illegal currency trading.
Description: "Myanmar’s junta is threatening legal action against anyone found to be in possession of foreign currency without authorization in what observers said was a bid to kneecap black market exchangers after the kyat has tumbled to one-third of its value against the U.S. dollar since the coup. On Aug. 18, US$1 spiked to 3,900 kyats, the highest in history and up 300% from 1,300 in January 2021, a month before the military seized power. The Central Bank responded Monday with an announcement in pro-junta media that those in possession of foreign currencies without permission will face charges under the Foreign Currency Management Law. The threat will do little to rein in the illegal currency exchange market, said an authorized foreign currency exchange business owner, who declined to be named citing security concerns. "Based on this announcement, it looks like they are going to [try to] enforce their set exchange rate of 2,920 or even 2,100 in any way possible,” he told RFA Burmese. “But no one is going to sell their foreign currencies ... If they have bought at a price of 3,000, they will never sell at 2,000, as they have invested millions of kyats." Under the Foreign Exchange Management Law, domestic residents are allowed to keep a maximum of US$10,000 or its equivalent in foreign currency for as long as six months from the date of receipt. After six months, the holder must sell the currencies to authorized exchangers or deposit it in a bank. The law also states that exchanging and selling foreign currency without a business license is punishable by up to three years in prison, a fine, and the confiscation of related assets. A domestic banking expert, who also spoke on condition of anonymity, said the only way the junta can control the rising dollar in Myanmar is to “regularly meet the demand for U.S. dollars and adjust the exchange rate according to external market conditions.” “The U.S. dollar exchange rate is going to rise as its demand is much higher than its supply,” he said. “There is no way to stop it. You can't stop it by issuing orders, nor by threats of arrest.” He noted that authorities have recently been buying U.S. dollars from people’s foreign currency accounts at the Central Bank’s exchange rate. On Saturday, junta Chairman of the Central Bank Than Than Swe told a meeting between Central Bank officials and local business owners in the capital Naypyidaw that “action will be taken” against illegal money exchangers and “those who write on the internet to inflate the value of the U.S. dollar.” U.S. dollar ‘only safe asset’ An economist monitoring gold and currency markets in Yangon told RFA that the Central Bank is using a “scare tactic” to control the value of the kyat, and warned that even if it works, it would only result in a “short-term solution.” “The real problem is the financial crisis,” he said, referring to junta mismanagement that has sent the economy into a nosedive. “Those who have money buy US dollars, which they consider [one of the only] safe assets … It’s impossible to try to change the situation by issuing orders.” Attempts by RFA to contact the Central Bank's Foreign Exchange Management Department by telephone rang unanswered on Monday. The junta’s store of U.S. dollars has been hit by U.S. Treasury Department sanctions, as well as a decision by Bangladesh's Sonali Bank last week to freeze the accounts of two junta-controlled banks with more than US$1.1 million after the U.S. Embassy in Dhaka sent a letter to the government requesting that Bangladesh comply with such sanctions The U.S. Treasury said the two banks – Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank – “facilitate much of the foreign currency exchange within Burma and enable transactions between the military regime and foreign markets, including for the purchase and import of arms and related material.” Junta Chairman Senior Gen. Min Aung Hlaing accused “some countries” of “using the dollar as a weapon” during remarks he made on Aug. 15 at the 11th International Security Conference in Russia. The junta’s Central Bank revoked 43 foreign currency exchange licenses this year on the pretext that they did not comply with the Foreign Exchange Management Law..."
Source/publisher: "Radio Free Asia" (USA)
2023-08-21
Date of entry/update: 2023-08-21
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Sub-title: A frontier economy, Myanmar experienced rapid growth as it opened up in the 2000s, with GDP growth rates among the highest in Asia. However, growth had already been slowing when the coronavirus shock hit in early 2020.
Description: "Although officially recorded cases of COVID-19 in Myanmar remain low, the social and economic effects could be significant, given the externally IMF emergency financing of $356.5 million, along with external financing, the Debt Service Suspension Initiative, and continued capacity development, are alleviating the impact of COVID-19, while establishing the roots for more sustained and inclusive growth. The government’s COVID-19 Economic Relief Plan aims at minimizing the pandemic’s impact by stimulating the economy and boosting spending on health and social safety nets. Six charts tell the story of Myanmar’s economy during the early months of the COVID-19 crisis:oriented economy, uneven social safety nets, and the fragile healthcare system. Compared to other countries in the region, Myanmar’s COVID-19 outbreak appears to be limited. The country reports about 300 confirmed cases despite its large population of 54 million, possibly reflecting limited testing capacity. The authorities implemented strict containment measures well before the case count picked up, including travel restrictions, closure of land borders, and bans on mass public gatherings, helping to flatten the curve of infections. The COVID-19 shock has affected the economy’s key growth engines. Myanmar has seen a sharp decline in exports, remittances, and tourist arrivals. At the same time, domestic economic activity has been constrained by measures taken to control the spread of the virus. Such disruptions have affected households and businesses, including in agriculture, which comprises a fifth of the economy and over half of employment. Furthermore, nearly four out of five workers in Myanmar are employed in the informal sector, with limited access to social safety nets. There is high uncertainty around growth in the short term, also reflecting the intensity and duration of containment measures, and the evolution of external conditions..."
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Source/publisher: "International Monetary Fund" (IMF) (Washington, D.C)
2020-07-07
Date of entry/update: 2020-07-09
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Description: "The global COVID-19 pandemic is dealing a severe blow to Myanmar's economy. Economic growth in a baseline scenario is projected to drop from 6.8 percent in FY18/19 to just 0.5 percent in FY2019/20, according to the World Bank's Myanmar Economic Monitor, released today. If the pandemic is protracted, the economy could contract by as much as 2.5 percent in FY2019/20, with the expected recovery in 2020/21 subject to further downside risks. The slowing economic growth threatens to partially reverse Myanmar's recent progress in poverty reduction while reducing the incomes of households that are already poor. Under the baseline scenario, in which the domestic spread of the coronavirus is brought under control, the global economy swiftly recovers, and Myanmar's GDP growth rate is projected to bounce back to 7.2 percent in FY2020/21, poverty rates would increase in the short term and will not return to pre-crisis levels until FY2021/22. Under the downside scenario, poverty rates would remain above their pre-crisis level until at least FY2022/23. The report also looks at the Myanmar government's response to the crisis through the COVID-19 fund and Economic Relief Plan (CERP), which includes measures to offer relief and initiate a resilient recovery - including tax relief, credit for businesses, food and cash to households, as well as policies to facilitate trade and investment. "At the moment the medium-term outlook for Myanmar's economy is positive, but there are significant downside risks due to the unpredictable evolution of the pandemic. Robust policy actions are urgently needed. It will be important for the government to boost the effectiveness of the CERP by ensuring flexibility in spending targets, extending support to smaller enterprises and ensuring all poor households can benefit from the plan," said Mariam Sherman, World Bank Country Director for Myanmar, Cambodia and Lao PDR..."
Source/publisher: World Bank via "Reliefweb" (New York)
2020-06-25
Date of entry/update: 2020-06-26
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Description: "Myanmar State Counsellor Aung San Suu Kyi is scrambling to roll out Covid-19 relief measures in a race to prevent businesses and banks from collapsing under the weight of the global pandemic. In late April, her government issued a 15-page “Covid-19 Economic Relief Plan” which broadly outlined its responses to the pandemic, though without committing to an overall cost or details on how the plan will be implemented. So far the impact of the pandemic has been mostly economic in Myanmar. As of May 14, the country had recorded only 181 Covid-19 cases and six deaths, though there is widespread skepticism about the figures due to a lack of testing. The government was earlier widely criticized for claiming there were no cases in the country. Deputy Finance Minister Set Aung indicated the relief package would inject the kyat equivalent of around US$2 billion into the local economy, representing between 3-4% of gross domestic product (GDP). The stimulus package will be funded by budget reallocations, central bank financing and assistance from international financial institutions, authorities said..."
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Source/publisher: "Asia Times" (Hong Kong)
2020-05-14
Date of entry/update: 2020-05-15
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Description: "We're tracking the latest on the coronavirus outbreak and the global response. Sign up here for our daily newsletter on what you need to know. The majority of Myanmar’s 60,000 registered factories face “irreversible damage” if shutdown measures prompted by the Covid-19 pandemic are extended beyond May 15, according to the head of the nation’s largest manufacturing trade group. “Many factories in Myanmar have been unproductive since early April and they may collapse if they are not able to operate after May 15,” Aung Thein, president of the Myanmar Industries Association, said in a telephone interview Friday. He was responding to speculation that the government is mulling an extension to lockdown, stay-at-home and business-closure measures. Myanmar had 176 confirmed cases of the coronavirus and six deaths as of Friday morning..."
Source/publisher: "Bloomberg News" (New York)
2020-05-09
Date of entry/update: 2020-05-09
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Description: "The government on April 28 announced its COVID-19 Economic Relief Plan (CERP), which seeks to mitigate the economic impact of the pandemic on Myanmar. The plan has seven goals, 10 strategies, 36 action plans and 76 actions that seek to flatten the curve without flattening Myanmar’s economy. It focuses on improving the microeconomic environment through monetary stimulus; easing the impact on the private sector through improvements to the investment, trade and banking sectors; assisting workers and households; promoting innovative products and platforms; strengthening the health-care system; and increasing access to the COVID-19 response financing, including contingency funds. The Irrawaddy reporters Myo Pa Pa San and Aung Thiha have interviewed economists and business leaders on the CERP..."
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Source/publisher: "The Irrawaddy" (Thailand)
2020-05-06
Date of entry/update: 2020-05-06
Grouping: Individual Documents
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Description: "The Myanmar Investment Commission (MIC) recently approved eight more investment enterprises from home and abroad, according to a release from the Directorate of Investment and Company Administration (DICA) on Tuesday. At the meeting held on Monday, the commission gave the green light to local and foreign enterprises with investment capital of 279.88 million U.S. dollars and 156.9 billion kyats (104.6 million U.S. dollars) respectively. The permitted investments are set to flow into the country's real estate, education service, agriculture and manufacturing sectors, creating 33,279 local employment opportunities, the DICA's release said. From fiscal year (FY) 1988-1989 to FY 2018-2019 which ended in September, Myanmar attracted more than 81.8 billion U.S. dollars of investment from 1,837 foreign enterprises. During the period, Singapore, China and Thailand are the three leading investors, and by sector, oil and gas sector attracted most foreign investments, followed by power and manufacturing sectors..."
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Source/publisher: "Xinhua" (China)
2019-10-22
Date of entry/update: 2019-11-16
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Sub-title: Cooperation urged at forum to ensure high-quality development
Description: "In April 2019, the second Belt and Road Forum for International Cooperation was held in Beijing, launching a new journey of the joint construction of the Belt and Road with high quality. In the keynote speech at the opening ceremony of the forum, President Xi Jinping pointed out that we should work together for high-quality development of the Belt and Road cooperation, fully implement the principle of extensive consultation, joint contribution and shared benefits, pursue open, green and clean cooperation, and follow a high-standard, people-oriented and sustainable approach. The connotation of high-quality development of Belt and Road cooperation was clarified. During the forum, relevant departments also released or launched the Debt Sustainability Framework for participating countries of the Belt and Road Initiative, Beijing Initiative for the Clean Silk Road, Cooperation Initiative on Silk Road of Innovation and Green Investment Principles. Background of the high-quality belt and road construction For some time now, some countries in Europe and the United States have questioned and made accusations against the Belt and Road Initiative. First, the questions are about “best practices” or international rules. Some European and American countries believe that the Belt and Road Initiative does not comply with “internationally accepted rules”, including “transparency”, “environmental social security” and “debt sustainability”; fails to perform “free trade” or “fair competition”; undermines the ecological environment; disrespects the legitimate rights and interests of workers in the host country; and increases the debt burden of the host country..."
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Source/publisher: "Asia Times" (Hong Kong)
2019-08-19
Date of entry/update: 2019-10-28
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Sub-title: Myanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports.
Description: "“The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at the Ministry of Commerce (MOC). While some question if the fall in imports is as a result of a slower economy, experts see no cause for concern yet, saying the dip is due to higher volumes of local production and stricter regulations. Meanwhile, they expect exports to rise further, driven by growth and investments. Total trade volumes for the period between October 1, 2018 and September 30, 2019 were almost $35 billion, with exports valued at $16.9 billion compared to imports of $18 billion. At $1.1 billion, the trade deficit falls short of the government’s target of $500 million. In comparison, total trade volumes the year before were slightly higher at $35.9 billion, with the trade deficit for that year exceeding $3 billion. Exports totaled $16.4 billion while imports were valued at $19.4 billion..."
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Source/publisher: "Myanmar Times" (Myanmar)
2019-10-21
Date of entry/update: 2019-10-22
Grouping: Individual Documents
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Topic: Myanmar Economy, Rice, Rice Farmers
Topic: Myanmar Economy, Rice, Rice Farmers
Description: "The Myanmar government has fixed the minimum price for rice at 500,000 kyats for 100 baskets of paddy (US$327.30 for about 2.09 tons) in a bid to establish a fair market and fair prices for paddy farmers. The government’s Leading Committee for the Protection and Promotion of the Rights and Interests of Farmers, led by Vice President Henry Van Thio, met last month to discuss setting the floor price for paddy grains. Paddy rice refers to unprocessed rice harvested from a field, rather than hulled rice. The government has agreed to pay any farmer the floor price, but only for paddy that meets quality standards: the grains, once processed, must have a moisture content of 14 percent and can’t have any dust, sand or gravel, according to an announcement released by the committee on Tuesday. According to the statement, if the market rate is higher than the floor price, rice is to be bought according to the market rate, but if the market rate is lower than the floor price, it is to be bought at floor price..."
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Source/publisher: "The Irrawaddy" (Thailand)
2019-10-16
Date of entry/update: 2019-10-17
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Description: "Handmade lanterns are earning high demand in the local market ahead of the upcoming Myanmar's traditional Thadingyut Lighting Festival which will fall on Oct. 13. Lanterns, from hanging ones for house decoration to small toy lantern carts for children to play with, have been highly consumed by customers of all ages since days before the festival. "Demand of local lanterns made a comeback since two years ago, after the local lanterns market went frozen when foreign-imported ones took a place in the market. Later these days, I have witnessed Myanmar's traditional artwork or handcrafted ones become well beloved by the people," Win Myint, a traditional lantern maker, told Xinhua. "Normally, 15,000 handmade lanterns are sold out every year. So far, we have sold more than 8,000 handmade lanterns -- both hanging ones and toy lanterns this year," he said. Running as the second generation of a family-run business aged over 40 years, Win Myint said, "Due to the small numbers of family members, we could only produce around seven designs for toy lanterns and our neighbours help us in making them too. We get orders not only from street vendors but also from companies which ask us to stamp their company logos on the lanterns". Using bamboo as the main raw material, Myanmar's traditional handmade lanterns come in different types and designs. Basically, bamboos are trimmed and molded into selected shapes. Along with the hanging lanterns, toy lanterns play as a market booster, targeting children. Toy lanterns are shaped into rabbit, rooster, fish, peacock, airplanes and others, and sticked with color papers. Most of the traditional makers start their operations about three months before the festival season. Some shops buy lanterns from the makers and upgrade them with decorative lights to attract more customers. "Rabbit-shaped toy lanterns are the best sellers. When children see me, they would excitedly greet us while their parents wouldn't," said Aung Aung, a street vendor, laughing. "I understand the parents' feeling of worrying that their wallets will get slimmer. I once met a little boy, crying and begging his mother to buy all designs I was selling. At last, they bought two toy lanterns," he recalled his memorable event..."
Source/publisher: "Xinhua" (China) via "Global Times" (China)
2019-10-10
Date of entry/update: 2019-10-15
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Description: "Key takeaways from the latest (Oct 2019) World Bank ‘Asia Pacific Economic Update – Weathering Growing Risks’ pertain to using policy spaces available for the countries in order to boost and sustain growth; to continue trade openness, including through deeper regional integration (within ASEAN and R-CEP and other bilateral arrangements) and enact structural reforms to raise productivity, enhance trade and investment and encourage innovation. Myanmar requires all these policy prescriptions. It is up to the policy makers in addressing the challenges of growth that is inclusive and provides dividends to all sections of people. Given that Myanmar has more fiscal space in terms of manageable debt and budget deficit, the need to expansionary cycle of public spending would be a logical policy route that can enhance the human resources as well as welfare of people. Equitable regional growth strategies, increased public spending on social sectors, and improvements in critical infrastructure (rural connectivity) can be the focus areas which can sustain the overall growth of the economy. A recently released public opinion survey by the International Republican Institute has also shown results in terms of overall satisfaction of the public on the direction of increased spending on rural infrastructure and social sectors. The biggest challenge for Myanmar is execution of projects and programmes at the ground level as the Bank repeatedly highlights as an issue to be addressed in order to improve the performance of the government. This in fact is the litmus test for reposing public confidence on the government..."
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Source/publisher: "Mizzima" (Myanmar)
2019-10-15
Date of entry/update: 2019-10-15
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Description: "Clickety-clack sounds coming from typewriters are heard along a busy old street in downtown area of Myanmar's Yangon, bringing vibes back from bygone golden era of typewriters. Along the sidewalk Maha Bandoola Park street, typists, mostly in middle ages, are seen busy hammering their fingers down on buttons of manual typewriters at stalls while their customers are sitting beside them, telling the typist what they want to type out or fill in the legal documents. In past half-century before computers took over in Myanmar, typewriters ruled the market and clack-clack-clack sounds from the writing machines can be heard anywhere -- in government offices, courthouses, companies and so on. But, such old writing machines still provide a modest living for typists who still cling stubbornly and affectionately to them, a far cry from today's modern computer age. Their customers cover from individuals who want to fill out marriage certificates, documents to lawyers for legal papers in both Burmese and English typescript. "Works to type up the pieces of writers and individuals become less in numbers, but on the other hand, filling out legal contracts and other notary works are enough to earn my living and to keep the business operating as well," Daw Myint Myint Oo, a typist running her own shop for more than 20 years, told Xinhua..."
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Source/publisher: "Xinhua" (China)
2019-10-08
Date of entry/update: 2019-10-10
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Description: "Myanmar aims to mobilize funds hidden in its vast informal economy through a tax amnesty, a controversial bid to galvanize new investment and business activity in the nation’s stalling economy. The “reduced tax rates for undeclared income” scheme, part of the recently approved Union Tax Law, entered into force this month, slashing prevailing 15-30% tax rates to as low as 3%. Under the amnesty, an individual with undisclosed income of up to 100 million kyat (US$66,000) will be taxed just 3%. The rate climbs to 5% for between 100 million and 300 million kyat ($200,000) in undeclared earnings, 10% for between 300 million and 3 billion kyat ($2 million), and 30% for any income above 3 billion kyat. The undeclared income must be invested in capital assets or businesses to qualify for the tax amnesty..."
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Source/publisher: "Asia Times" (Hong Kong)
2019-10-10
Date of entry/update: 2019-10-10
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Sub-title: The Thilawa Special Economic Zone near Yangon is set to become a vital link in the East West Economic Corridor linking Myanmar, Thailand, Laos, Cambodia and Vietnam says an official from the Japan International Cooperation Agency (JICA).
Description: "The East West Economic Corridor development project aims to link transportation and logistics networks to promote investment and trade between the five countries via countrywide transportation networks. “Bridges and roads are being constructed for the east-to-west projects, and the trade flows are expected to become smoother once this is done. Besides this, industrial zones will appear along the road,” said JICA Chief Representative to Myanmar Masayuki Karasawa. JICA expects the Myawady-Malamyine road network, being built with funding from JICA and Asian Development Bank, to be completed by 2023, while a feasibility study for new Sittaung Bridge project is being conducted, and it is expected to finish in 2026-2027..."
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Source/publisher: "Myanmar Times" (Myanmar)
2019-10-03
Date of entry/update: 2019-10-03
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Description: "Myanmar is due to receive over K703 billion in foreign aid and seek over K2,624 billion in foreign loans in 2019-2020 fiscal year that starts on October 1, according to the Joint Public Accounts Committee. K0.167 billion in foreign aid and K0.166 billion in foreign loans are earmarked for central level organizations while K596.193 billion in foreign aid and 1,473.655 billion are for government ministries and departments. Moreover, State-owned enterprises (inclusive within State budget) will spend K53.029 billion in foreign aid and K1,038.557 billion in foreign loans. State-owned enterprises (exclusive from State budget) will spend K3.078 billion in foreign aid and K101.383 billion in foreign loans. The Central Bank of Myanmar is set to receive K51.217 billion in foreign aid and K11.072 billion in foreign loans. Deputy Minister for Planning and Finance Maung Maung Win said until March 31 this year, Myanmar had a foreign loan of US$9.89 billion. Calculating in Myanmar kyat, both foreign and local loans amounted to K38,117 billion. From 2015-2016 FY under the Thein Sein government to 2018-2019 FY under the ruling National League for Democracy government, the foreign debt amounted to K10,147 billion, bringing increased interest rates..."
Source/publisher: "Eleven Media Group" (Myanmar)
2019-09-30
Date of entry/update: 2019-10-01
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Description: "The new consortium includes ITD, Japanese-Thai joint venture Rojana Industrial Park Public Company and LNG Plus International Company, also from Thailand, according to a statement by Damien Dujacquier, a partner at consultant Roland Berger. Late last year, Japanese Prime Minister Shinzo Abe confirmed he would support the economic zone in Tanintharyi Region which aims to link the Andaman Sea to Bangkok and the Gulf of Thailand. However, there was no mention of Japan?s participation in the August 5 statement. ?The agreement marks a significant milestone in Myanmar?s economic development,” said Mr Dujacquier. ?The zone is expected to create hundreds of thousands of jobs in the long term and contribute up to 5 percent of Myanmar?s GDP [gross domestic product] by 2045.” The ambitious project has been in the works for many years. The governments of Myanmar and Thailand first signed a memorandum of understanding to develop the area in 2008, then in 2010 Myanmar granted a 60-year concession to ITD to develop a deep sea port, industrial estate, and road and rail link to Thailand..."
Creator/author: Clare Hammond
Source/publisher: "Myanmar Times" (English)
2015-08-07
Date of entry/update: 2015-08-29
Grouping: Individual Documents
Language: English
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Description: "Sixteen Asia-Pacific countries are set to start talks next month on a free trade zone that would cover over half the world?s population, according to a document obtained by AFP Tuesday. The start of negotiations for the Regional Comprehensive Economic Partnership (RCEP) are planned despite deep rifts among potential members, including China, Japan and Southeast Asian nations, over rival territorial claims. Leaders of the Association of Southeast Asian Nations (ASEAN), who will meet in Brunei on Wednesday and Thursday, are expected to focus on kick-starting the talks after launching the process last year at a regional summit in Phnom Penh..."
Source/publisher: AFP via Mizzima
2013-04-23
Date of entry/update: 2013-04-23
Grouping: Individual Documents
Language: English
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Description: Role of Regional Cooperation and Integration in Myanmar?s Development: 1. Myanmar is strategically located in Asia. Having the largest land area in mainland Southeast Asia, it shares borders with the People?s Republic of China (PRC) on the north and northeast, Lao PDR and Thailand on the east and southeast, and Bangladesh and India on the west and northwest. It has a long coastline of around 2,800 km which provides access to sea routes and deep-sea ports. It has the potential to serve as a land bridge between Southeast and South Asia, and between Southeast Asia and the PRC. Regional cooperation and integration (RCI), therefore, provides Myanmar with a great opportunity to secure benefits in terms of access to regional and global markets, technology, and finance and management expertise. It can also promote inflows of foreign direct investment which can enable Myanmar to link up with regional and global supply networks. Besides expanding employment opportunities, RCI can also help in addressing social and environmental concerns through cooperation with neighboring countries...II. The GMS Program... III. Myanmar and the GMS Program...IV. GMS Economic Corridors ...V. Myanmar?s Participation in BIMSTEC... VI. Issues facing the GMS Program including Myanmar...VII. RCI Opportunities in Myanmar...
Source/publisher: Asian Development Bank (ADB)
2012-09-00
Date of entry/update: 2012-09-28
Grouping: Individual Documents
Language: English
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Description: "Many countries have shown more interest in trading with Asean than in taking Burma?s generals to task for trampling on citizens? basic rights... The more pressing needs of economic growth in East Asia appear to be overriding the issue of pressuring the Burmese military junta to reform. Economic giants China and India are on the verge of finalizing free trade agreements (FTAs) with the Association of Southeast Asian Nations (Asean), to which Burma belongs, while both Australia and New Zealand have just formed closer trade pacts with the bloc..."
Creator/author: William Boot
Source/publisher: "The Irrawaddy" Vol. 16, No. 10
2008-10-00
Date of entry/update: 2008-11-14
Grouping: Individual Documents
Language: English
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