Contents 1. Basic Principles and Objectives 2. Foreign Trade Relations 3. Trade Patterns and Direction of Trade 4. Export and Import Policies 5. Trade Facilitation Activities 6. Foreign Trade of Myanmar 7. Myanmar-USA Bilateral Trade 8. Needs
1. Basic Principle of Trade - Trade activities should be aimed at the interest of the State and the people - Trade activities should not be a burden to the people - Trade activities should be aimed at structuring a long-term viable trading system rather than to gain short-term profit
Objectives of General Trade Policy - To implement trade policies systematically for proper evolution of the market-oriented economic system - To promote the export of various domestic products for export promotion - To carry out the promotion of trade not only through overseas trade but also cross border trade
Objectives of Foreign Trade Policy - To increase trade volume - To encourage private sector development in accordance with the market- oriented economic system - To expand market shares for Myanmar products in the world markets through collaboration with international organizations - To provide support and necessary assistance for trade facilitation
2. Foreign Trade Relations of Myanmar - Member of WTO - Member of ASEAN, BIMSTEC, GMS, ACMECS - Bilateral trade agreements with Bangladesh, China (PRC), India, Korea (ROK), Lao PDR, Malaysia, Pakistan, Philippines, Thailand and Vietnam.
3. Trade Patterns - Myanmar is mainly an exporter of agricultural and primary products -main export items are agricultural products, fishery products, forest products, metals & minerals inclusive of natural gas, precious stones & pearls and some industrial products -major import items are capital goods, industrial raw materials, spare parts and consumer goods.
Direction of Trade Currently, Myanmar Foreign Trade is mainly with Asian countries of China (PRC), Thailand, Singapore, India, Japan, Korea (ROK), Indonesia, Malaysia and Hong Kong.
4. Export Policy of Myanmar To extend and explore the foreign markets by utilizing the natural and human resources effectively and efficiently and also to promote the export of traditional and value- added products.
Import Policy of Myanmar To allow to import the commodity given priority as capital goods required by the State, raw materials for production, other important essential goods and the goods which support to the public health and export promotion.
5. Trade Facilitation activities -After taking over the State power by new government in April, 2011, new government is carrying out a lot of reformed measures in all sectors including trade sector. -Since trade facilitation is the important feature for smooth flow of international trade, new government has made liberalization activities in order to facilitate the trade matters. Those activities included: (i)Some important commodities such as fuel oil, edible palm oil are allowed to import, which were restricted to import by private sector previously. (ii)motor vehicles are also allowed to import to any citizen of Myanmar and private company to use for individual and business purpose respectively. (iii)Some important agricultural products of edible oil, edible oil seeds, onion and rice are also allowed to export to private sector, which were prohibited to export in the past. (iv)Commercial tax on proceed of export earnings were abolished. (v) export/import licenses are issued at both Yangon and Nay Pyi Taw offices rather than issued at Nay Pyi Taw office only. (vi)Reduce required documents which are necessary to attach with application for licenses.
6. Foreign Trade of Myanmar (From 2009-2010 to 2011-2012) A/U - US $ Million
Myanmar’s Foreign Trade by Commodity (From 2009-2010 to 2011-2012) A/U - US $ Million
7. Myanmar - USA Bilateral Trade (From 2009-2010 to 2011-2012) A/U - US $ Million
Myanmar – USA Bilateral Trade by Commodity (From 2010-2011 to 2011-2012) A/U - US $ Million
Some Top Items of Myanmar Products exported to USA ( From 2010-2011 to 2011-2012) A/U - US $ Million
Some Top Items of imported products from USA to Myanmar (From 2010-2011 to 2011-2012) A/U – US $ Million
8. Needs Myanmar is making continuous reformed measures and trying to build a modernized and advanced democratic countries in the future. To enable to support it, we do hope to receive all kinds of assistances from western countries which have relaxed the sanctions and also from other developed countries, interested nations and international organizations. We really need all kinds of assistances in all possible ways such as financial assistance (aid, grants, loans), technology know how and technical assistance & capacity building activities so as to build up all round development of the country.