Myanmar Foreign Trade Policy

Myanmar Foreign Trade Policy

Myanmar foreign trade policy is a very independent one.  Myanmar can trade with any country in the world except with some countries that are trade embargoed by the UN’s resolutions or a few countries and territories which we have cut off diplomatic relations.  Myanmar was a founder member of the old organization GATT, and a member of a the new organization WTO. Hence, its foreign trade policies are generally governed by the rule-based multilateral trading system.

Myanmar’s foreign trade is mainly with Asian countries.   More than 70% of total export goes to the Asian region and round about 90% of total import comes from this region.  Like most developing countries, it is still an exporter or agricultural and other primary products.  The country’s imports consist largely of manufactured goods, particularly the  capital goods and raw material s which constitute about 65% of total imports.  Myanmar foreign trade is mainly with Asian Countries: China, Singapore, Japan, Thailand, Malaysia and India.

Myanmar has bilateral trade agreement with Republic of Korea, China, Thailand, Bangladesh, India, Pakistan, Vietnam, Laos, Philippines, Malaysia  in the Asian region and six countries in Eastern Europe, on the principle of equality of rights and mutual benefits.  Myanmar has signed  four Border Trade Agreement with its neighbors, China, India, Bangladesh and  Thailand.