Trade Facilitation Support for ASEAN Economic Community Blueprint Implementation (Myanmar)
Details
Funding
Project Description
The Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) vision of an integrated Southeast Asian community --- a single market and production base --- rests on the free flow of goods, services, investments, capital, and skilled labor among member states. The Asian Development Bank (ADB) is promoting AEC's vision by enhancing transport and trade facilitation (TTF) through three subregional groupings supported by ADB: (i) the Greater Mekong Subregion (GMS) Economic Cooperation Program, (ii) the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT), and (iii) the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). Strengthening TTF to enable cheaper and faster transport across borders has been a priority in the GMS, where member countries approved a program of action for TTF at the 16th Ministerial Conference in Ha Noi in August 2010 to guide their cooperation in this area.
Progress (as of March 2021)
Project closedContacts
| Contact 1 | |
| Contact Name | Hinata, Shunichi |
|---|---|
| Organization | Asian Development Bank |
| Contact 2 | |
| Contact Name | - |
| Organization | - |
| - | |
News and Multimedia
Intha women go off to work in Nyaung Shwe town. The legal system of Myanmar provides equal rights to women and men in the area of business and commerce.
Source: ADB Flickr
Porters carry goods from a cargo ship at the Botataung Pier in Yangon. Myanmarâs exponential growth in gross domestic product (GDP) could be held back by inadequate basic infrastructure and a lack of skilled workers, experts say.
Source: ADB Flickr
Street vendors set up shop at busy thoroughfares. There is a great deal of informal trade, especially in street markets such as these in Yangon.
Source: ADB Flickr
Shopkeeper working in a souvenir shop at the Bogyoke Market in Yangon. The legal system of Myanmar provides equal rights to women and men in the area of business and commerce.
Source: ADB Flickr
Cheap China-made cellphones on display at a Nyaung Shwe mobile shop. With the recent opening of its economy to the world, Myanmar has seen an influx of modern and affordable telecommunications products and services.
Source: ADB Flickr
Yangon resident makes a call on his smartphone. With the recent opening of its economy to the world, Myanmar has seen an influx of modern and affordable telecommunications products and services.
Source: ADB Flickr
Yangon resident makes a call on his smartphone. With the recent opening of its economy to the world, Myanmar has seen an influx of modern and affordable telecommunications products and services.
Source: ADB Flickr
Souvenir and handicraft stall owners keep shop at the Bogyoke Aung San Market. The tourism boom in Myanmar has ensured a steady stream of income for businesses at this particular market.
Source: ADB Flickr
Myanmar's currency is the Kyat. On April 1, 2012, the Government of Myanmar began allowing for a managed float of the kyat and legalized the use and exchange of foreign currencies in Myanmar to better reflect the global exchange rates and attract investment.
Source: ADB Flickr
Money changers do brisk business with foreigners at the Mingaladon International Airport. On April 1, 2012, the Government of Myanmar began allowing for a managed float of the kyat and legalized the use and exchange of foreign currencies in Myanmar to better reflect the global exchange rates and attract investment.
Source: ADB Flickr
Banks and Automated Teller Machines await customers in Yangon. In 2012, the Asian Development Bank granted a $512,000,000 loan to Myanmar for the purpose of upgrading banking services alongside major investments in road, energy, irrigation and education projects.
Source: ADB Flickr