Beneficial Trade Agreements

Regarding preferential trade agreements with European nations, Myanmar benefits from GSP preferences in the EU market. Although the United States has not yet chosen to re-instate GSP preferences for Myanmar products, Myanmar is afforded MFN status, resulting in lower tariffs than nations which do not have such status.

As a member of the ASEAN trade bloc, Myanmar will also be part of the ASEAN free trade area from 2015. This will necessitate Myanmar’s inclusion in several multi-lateral free trade pacts, such as the ASEAN-China Free Trade Area, the ASEAN-Korea Free Trade Area, the ASEAN-Australia-New Zealand Free Trade Area, the ASEAN-India Free Trade Area, and the ASEAN-Japan Comprehensive Economic Partnership.

Discussions are ongoing for the Regional Comprehensive Economic Partnership. This intends to be an ASEAN + 6 free trade arrangement between the 10 ASEAN nations with Australia, China, India, Japan, South Korea and New Zealand.