Trade Agreement In Burma

Mifer said the RCEP agreement would provide an important market for Myanmar`s exports and opportunities for responsible and quality investment. As an ASEAN member, 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 customs lines by 2018. The 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 the Asian region, as well as with a number of Eastern European countries. Myanmar is a member of the WTO and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Myanmar has trade agreements with China, India, Bangladesh, Thailand and Laos. The Government of Myanmar has signed a series of Memorandums of Understanding aimed at expanding bilateral trade with these countries. The United States and Myanmar also signed a framework agreement on trade and investment in May 2013.

For more information on Myanmar`s trade policy, visit the WTO website: Myanmar adopts SPS standards in line with those of Codex Alimentarius, ASEAN and the World Organisation for Animal Health. The Ministry of Agriculture and Irrigation and the Ministry of Livestock, Fisheries and Rural Development are responsible for health and plant health measures (SPS), while the plant health department of the Ministry of Agriculture and Irrigation is the responsible authority for the issuance of SPS certificates. SPS certificates are required for: prepared food, fishing; Medications Pesticides and crops, while import permits are also required for imports of live animals, animal products, feed and veterinary medicines. The Directorate of Investment and Business Administration (DICA), the Department of National Planning and Economic Development, is the national body of investigation at the WTO on SPS issues. The Director General of Myanmar`s Department of Science and Technology Research, the Ministry of Science and Technology, serves as a national point of contact for technical barriers to exchange (OTC). U Than Aung Kyaw said that, as part of the agreement, Myanmar would have sufficient time to prepare to fully integrate into the agreement, including adapting to international standards of the framework and its procedures and strengthening the capacity of governmental and private organizations at the international level. Since 2019, he has been the RCEP`s trade coordinator on Myanmar`s 16-member trade coordination committee and leading the working group in the negotiations. The Regional Economic Partnership (RCEP) was signed on Sunday by China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South Asian Nations (ASEAN). The agreement aims to liberalize trade and investment throughout the Asia-Pacific region by removing and lowering tariffs, particularly for industrial and agricultural products, and by establishing new rules on public procurement, competition policy, e-commerce, trade, data transfer and intellectual property.

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