WTO'S First Review Of Trade Policy In Burma

< p > WTO reviewed the trade policy for the first time in Burma, indicating that the country has young labor force, abundant natural resources and fast-growing dynamic economic zone, which has great potential for growth.

WTO said that the government of Burma is planning to reform its economic and trade policies, including the development of new competition law and comprehensive intellectual property law, in order to further integrate with the international trading system.

However, the bottleneck of lack of talents and infrastructure has obviously hindered the modernization of Burma's economy.

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< p > Burma was founded in 1947 as the founding member of GATT, formerly known as "Burma".

Since 1962, the military government seized the power of the regime for 50 years, resulting in a backward economy and a low development country.

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In 1990, the military government of Burma refused to give power to the National Democratic Alliance of the opposition which won the election on the basis of the election results. The United States and other western countries adopted economic sanctions against P.

In 2012, the United States slowed down sanctions against Burma in response to the political and economic reforms of its government and lifted restrictions in the following year.

In May 21, 2013, the United States and Burma signed the agreement on Trade and investment structure (TIFA) and set up a committee to discuss bilateral trade and investment issues.

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< p > WTO indicates that Burma is in the process of economic pformation. Its government adopts the measures of opening up the economy and revising the relevant trade laws and regulations, and the profits of export products can enjoy tax reduction and exemption. In addition, the regulations on increasing the number of domestic employees are added, and 166 products are abolished and the export visas are abolished for 152 products, so as to facilitate trade facilitation.

The existing export tariffs are concentrated in a few natural resources, such as gemstones, timber, oil and gas.

The government of Burma indicated that the export ban on teak was launched since April 1st this year on the basis of the protection of the existing pomelo forest.

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< p > the degree of involvement of the government in state-owned enterprises (SOEs) is not clear. It is believed that the military government is in command of the economy.

WTO pointed out that the government estimated that from 2011 to 2012, the proportion of private sector GDP accounted for 91%, of which SOEs was 41%.

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< p > Burma's state-run trade operation is still opaque, and it has not been able to submit a notice on the state-run a href= "http://www.91se91.com/news/index_cj.asp" > trade < < /a > so far.

SOEs has obviously monopolized the import of Plateau oil and refined petrochemical products, and has also been quite active in other industries such as wood and sea salt chemicals.

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< p > on foreign trade, Burma's policy is strongly influenced by the preferential trade agreements signed between ASEAN and ASEAN and ASEAN and Australia, New Zealand, China, India, Japan and South Korea.

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Between 2011 and 2012, the total import value of Burma's trade with ASEAN members was 9 billion US dollars, accounting for 40% of the total imports. The export value was 9 billion 100 million US dollars, accounting for 50% of the total exports.

The mainland is its main non ASEAN trading partner.

The US exports to Burma in 2012 amounted to $93 million, while Burma's exports to the United States amounted to $4 million in the same year.

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Between P and 2005, about 33 billion US dollars of foreign investment poured into the country, most of which invested in oil, gas, electricity and mining sectors.

Investment in mainland China accounts for 42%, followed by 25% in Thailand, 18% in Hongkong and 8% in Korea.

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< p > > a href= "http://www.91se91.com/news/index_cj.asp" > Burma < /a > Vice Minister of Commerce Pwint San promises to WTO members that it will continue to market and open up the economy and gradually integrate with the global economy.

The most important economic reform in the country was replaced by the "managed floating" exchange rate, which was overestimated by the government in April 2012, and a more liberal foreign investment law was established in November of that year.

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< p > ongoing trade related changes include the establishment of a single window for customs clearance, the drafting of the national standard law, and the reform of domestic tax regulations to make it more neutral to trade and to establish special economic zones with tax incentives.

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< p > Pwint San said that in the late 2011, the monopolization of state trading was largely abolished, and most state-owned enterprises were privatized, mostly in buildings, energy, forests and telecommunications.

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< p > the Burma government has gradually opened up certain service sectors for outsiders to invest, including energy, finance and telecommunications.

Vice Minister San said that as of June 2013, 2 national communications services certificates had been issued to foreign companies.

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< p > on intellectual property rights, vice minister San said that the law on intellectual property rights in patents, trademarks, copyright and industrial design will be formulated and consistent with WTO's intellectual property rights regulations.

The government of Burma is working with the World Intellectual Property Organization on the implementation of relevant laws and regulations. This (2014) can be adopted before the end of the year.

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