August 19, 2016

Myanmar steps up efforts to integrate into global economy

Vice President U Myint Swe.Photo: MNA
Vice President U Myint Swe.Photo: MNA

MYANMAR is going all out to integrate the underdeveloped nation into the global economy, said Vice President U Myint Swe during the release of a report of a “multi-dimensional assessment on trade development by the Ministry of Commerce (MoC) and World Bank (WB),” in Nay Pyi Taw yesterday.
“The government has focused on economic growth that could be brought about by improved trade, job creation, investment inflows and trade facilitation,” said U Myint Swe, adding “The report finds that barriers, technical assistance and policies are needed to be addressed and fulfilled in respective sectors to ensure the country’s integration into the global economy is a smooth transition.”
U Myint Swe focused on how there is a need to promote the country’s trade sector in order for Myanmar to realise its geographical importance, the Vice President called for a quick integration of the country into the global economy.
Also emphasising the importance of further implementation of recommendations from international groups and work programmes after addressing the country’s weaknesses noted in the report, he acknowledges that the report will be of great benefit to the new government.
Union Minister for Commerce Dr Than Myint broke down the report developed by experts from the WB after holding talks with ministries concerned in connection with the trade sector and the private sector.
Dr Than Myint spoke of improving Myanmar’s basic infrastructure, small-to-medium enterprises, human resources and technologies for ensuring the quality of products and capacity-building in the country’s financial sector.
Officials from the World Trade Organisation and the WB followed with speeches.—Myanmar News Agency


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