Burma Free Trade Agreement

The ASEAN Comprehensive Investment Agreement (ACIA) entered into force on 29 March 2012 and was signed by ten ASEAN member states. Its objective is to support a free, open, transparent and integrated investment regime in the Asean (Association of Southeast Asian Nations) region, in line with the objective of establishing an ASEAN Economic Community by 2015. It also aims to support increased investment within ASEAN and improve ASEAN competitiveness to attract foreign investment to ASEAN, in order to achieve economic integration under the ACS, in line with the ACS blueprint. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S. companies to get more information on how to use these agreements. As a member of ASEAN, 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 tariff lines by 2018. 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 Asia, 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-Sector technical technical and Economic Cooperation (BIMSTEC). Myanmar has border agreements with China, India, Bangladesh, Thailand and Laos. The Government of Myanmar has signed a series of memoranda of understanding aimed at expanding bilateral trade with these countries. The United States and Myanmar also signed a Trade and Investment Framework Agreement in May 2013. More information on Myanmar`s trade policy is available on the WTO website: docsonline.wto.org The United States and Burma regularly engage under the 2013 U.S.-Myanmar Trade and Investment Framework Agreement (TIFA), which created a platform for ongoing dialogue on trade and investment issues between the two governments. Under the TIFA, the two governments are cooperating to identify initiatives that support Burma`s ongoing reform process and related development activities. In November 2016, the United States again considered Burma a preference under the Generalized System of Preferences. Automakers see great opportunities to export cars to ASEAN, given that tariffs will be reduced to zero percent from 2018 under the ASEAN Free Trade Agreement (FTA).

However, to benefit from the zero%% duty, Vietnamese products must have a minimum rate of 40%. Truong Hai Automobile has […] The European Union will begin negotiations this week for an investment pact with Burma, the EU`s top trade representative said on Monday, an agreement aimed at giving European companies privileged access to one of Asia`s last border markets. Burma, an underdeveloped country that was blocked until 2012 due to trade sanctions […] Thai policymakers looking for ways to reverse the drop in exports may have found a solution close to home – a $170 billion market just behind the border, which is growing by more than 6% a year. Like deliveries to China, Europe and the United States the Thai government is slowly working on a strategy […] Myanmar has signed Regional Free Trade Agreements (ASAs) with: AS Hong Kong Second Belt and Road Summit began today in the city The Myanmar Times asked two experts from the Economist Intelligence Unit and the Lau China Institute at King`s College London to contribute to the dynamism of the Belt and Road Initiative (BRI) and China with regard to Myanmar and ASEAN.

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