Course summary: trade and business in Myanmar (Burma)
The Republic of the Union of Myanmar (Burma) is rich in resources (hardwood timber, natural gas, fishery reserves, gems,
jade), agricultural (agriculture, livestock, fisheries, and forestry)
sector represent the 50% of Burmese
Gross domestic product (GDP).
In recent years, the Union of Myanmar has liberalized local and
international trade,
promoting the
private sector and opening the country to Foreign direct investment (FDI).
Government controlled activity prevails in strategic sector of the economy of Burma: energy, heavy industry, and
international trade of rice International (control local rice prices, constrict
exports). The economy is dominated by military commercial entities.
The Republic of the Union of Myanmar has preferential market access
to:
International Trade of Burma. Exports of rice of Burma hit a record in
2009
- Main export products of Myanmar: natural gas
(38%), agricultural export products (18%), precious stones, timber and forest products
and marine products.
- Major export markets of Myanmar: Thailand (40%), Singapore
(13%), Hong Kong and India (11%), People's Republic of China
(8%), Malaysia ....
- Main imports products of Myanmar: oil, textiles, machinery parts, steel, iron, bars ...
- Major import markets of Myanmar: Singapore (30%), People's Republic of China (18%), Bahamas
(13%), Thailand, Japan ...
The Port of Yangon is the
main port of the Republic of the Union of Myanmar (90 %
of foreign trade -exports and imports-).
Example doing business in Myanmar:
Borders of the Republic of the Union of Myanmar: China, Lao, Thailand, Bangladesh and the Republic of India. The capital
of Burma is Yangon (Rangoon).
Burmese is the official language (32 million
speakers). 89% of the Burmese population practices Theravada Buddhism.
