Foreign Trade

Myanmar Investment Legal, Tax and Operational Issues

Op-Ed Commentary: Chris Devonshire-Ellis

May 18 – As the United States has just eased its financial sanctions against Myanmar, now seems an appropriate time to take a look at the actual situation on the ground there and the opportunities for foreign investment. Our practice, Dezan Shira & Associates, has a strong presence throughout Asia and with seventeen offices just between China and India alone, Myanmar – sandwiched right between these two Asian giants – seems an appropriate place to target. However, having visited the country and taken soundings, much remains to be done before Myanmar is even suitable for foreign investors to enter without either huge resources or strong doses of entrepreneurial commitment. It is not, as others have suggested, a destination that foreign investors should be running to. Such talk is hopelessly naive. Continue reading →

Posted in Business, Featured, Foreign Trade, Markets | Tagged Burma, Myanmar, Myanmar FDI, Myanmar Legal, Myanmar Operational, Myanmar Regulatory, Myanmar Tax | 1 Comment

Myanmar to Lift Global Payment Restrictions

Move will boost ability for businesses to buy and sell

May 15 – Myanmar will lift its existing restrictions concerning international payments and transfers by the end of this year, according to the International Monetary Fund, making it easier for businesses to trade in and with the country.

The government is expected to finalize the unification of the existing system of multiple exchange rates also by this time, following the Central Bank’s decision to scrap the 35-year-old fixed exchange rate last month. The fixed rate had created a huge black market for U.S. dollars within a country with barely any financial infrastructure. Continue reading →

Posted in Finance, Foreign Trade | Tagged Burma, International Monetary Fund, Myanmar | Leave a comment

Report: Economic and Social Survey of Asia-Pacific Region 2012

May 14 – The United Nations Economic and Social Survey of Asia and the Pacific (ESCAP) launched the 2012 edition of the Economic and Social Survey of Asia and the Pacific on May 10, the oldest and most comprehensive annual review of economic and social development in the region. The survey scales down the economic growth of the region to 6.5 percent in 2012, with China and India expanding their economy by 8.6 percent and 7.5 percent, respectively.

Similar to the statement made in the Asia-Pacific Regional Outlook by the IMF, ESCAP sees Asia as the world’s fastest growing region and an anchor for global economic stability. According to ESCAP, the growth rate of the region’s developing economies is projected to slow down to 6.5 percent in 2012 compared to 7 percent in 2011 and 8.9 percent in 2010. However, the slowdown is expected to lower the inflation rate in the region from 6.1 percent in 2011 to 4.8 percent in 2012. Continue reading →

Posted in Business, Featured, Foreign Trade | Tagged Asia-Pacific Region, China Economy, GDP Growth, India Economy, Inflation, United Nations | Leave a comment

Report: 2012 Asia-Pacific Regional Economic Outlook

May 3 – The International Monetary Fund released its new Regional Economic Outlook for Asia-Pacific in April, projecting 6 percent regional growth in 2012 and 6.5 percent in 2013. However, by remaining the fastest growing region in the world, Asia-Pacific shares both the upside and downside risks of the global environment. The report cautions on potential challenges and provides possible solutions for Asian countries to gain momentum in economic growth over the course of 2012.

A slowing but promising Asian economy
Sluggish economic performances in the Eurozone and the United States are having a significant effect on the Asian market, since many countries in the region have export-oriented economies relying heavily on external demand.

However, there are signs of stabilization in the Asia Pacific region even while the global environment remains uncertain. Continue reading →

Posted in Business, Featured, Foreign Trade | Tagged ASEAN, Economic Growth, Emerging Asia, GDP Forecasts, IMF, Industrial Asia | Leave a comment

ASEAN and China to Become Top Trade Partners by 2015

Apr. 20 – When taken together as a group, the combined members of the Association of Southeast Asian Nations (ASEAN) will become China’s top trading partners by 2015, according to the China Council for the Promotion of International Trade.

Made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, ASEAN last year overtook Japan as China’s third-largest trading partner with bilateral trade reaching US$362.3 billion. This trailed only China’s trade with the European Union (US$567.2 billion) and the United States (US$446.6 billion). Continue reading →

Posted in Business, Foreign Trade | Tagged ASEAN, China | Leave a comment

China, India and Thailand Fastest Growing Markets for LDC Nations

Apr. 9 – World Trade Organization Director-General Pascal Lamy has stated that China, India and Thailand are the fastest growing markets for exports from the world’s least developed countries (LDC).

“Three of the five fastest-growing markets for LDC exports are regional partners: China, India and Thailand,” Lamy said. Continue reading →

Posted in Business, Foreign Trade | Tagged ASEAN, China, India, Least Developed Countries, Pascal Lamy, Thailand, World Trade Organization | Leave a comment

China Halts Imports of Indian Seafood

Apr. 4 – China is to ban imports of seafood from India after the South Asian country failed to obtain certification from China’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ). India exported some 159,000 tons of seafood to China last year.

China introduced the AQSIQ requirements from May last year, and is apparently adhering to them quite strictly. From June 1 this year, China will only import seafood from countries that have obtained AQSIQ certification, which currently extends to just 27 countries. Continue reading →

Posted in Foreign Trade, Politics | Leave a comment

2point6billion.com provides news and analysis on foreign trade in south east Asia, with a particular focus on China and India. The stories are contributed by the foreign direct investment experts at Dezan Shira & Associates, who have offices throughout China, India and Vietnam.