October 20, 2017

Vice President addresses Medium-term Programme (MTP) ceremony on the development of trade sector

Vice President U Myint Swe, centre, with participants at the ceremony. Photo: MNA

Vice President U Myint Swe addressed the gathering at a ceremony releasing the report on medium-term programme (MTP) on development of the trade sector held at the Hilton Hotel in Nay Pyi Taw yesterday.
“Today’s ceremony is the one for releasing the report on the medium-term programme (MTP) on the development of the trade sector that the World Bank and the Ministry of Commerce and Trade finally compiled as the additional working process of the report, ‘Diagnostic Trade Integration Study—DTIS.’ It is a work in progress under the Enhanced Integrated Framework (EIF) for development of the trade sector of the least-developed countries from the World Trade Organization (WTO). The World Bank estimated today’s global economic progress at 2.9 per cent, decreasing to 2.4 per cent, actually. It was attributed to the slump of developed countries’ economic progress, the slumping of commodity prices, the decreasing rate of global trade demand, dropping trade demands in the advanced economic market and slowing down of capital flow. Global countries urgently need the new set-up of the world economy, due to the performances of balancing economic policy and slow-progressive economic condition. A plan to be performed globally was laid down in the World Economic Forum, 2017” the Vice President said.
“According to the report released by the International Monetary Fund in 2016, Myanmar stood at second from the top of the economic progress rate, but the economy of the great powers in the Asia region became slow, with the slowing rate of global economy. In such a time, it is of great importance for our country to promptly unite with (other) countries, especially in the trade sector. Myanmar laid down 12 economic policies. In doing so, it drew up policies in accord with two destinations — creating job opportunities for everyone and upgrading sustainable economic development and emergence of strengthened types of consumption and production.
The Medium Term Programme will carry out the tasks of subsidizing technical aid on trade in five prioritised spheres needed for supporting the trade development sector in coming five years.”
Afterward, Dr Than Myint, Union Minister for Commerce  said the aforementioned tasks are to be undertaken in the future.
“The Ministry of Commerce managed to make the assessment for the first time, on ‘Diagnostic Trade Integrated Study—DTIS, in 2015’ in cooperation with the World Bank. MTP is the comprehensively-described report of Action Matrix to be performed in short term and medium term (2, 3 or 5 years) from various sectors for the trade sector development. It took time to draw up the (DTIS) report to be implemented in the short term and medium term. Besides, others DTISs—reports on strategy on national exports, reports on development in private sector, report on smooth and prompt actions in trade and report on ASEAN commodities and services were selected as prioritized sectors. Five major panels, 23 series of working process and over 180 prioritised enterprises to be implemented further were chosen as priorites.”
The ambassador of the EU, Roland Kobia and Country Manager of the World Bank, Mr Abdoulaye Seck,  made welcoming speeches.
Present at the ceremony were U Hla Kyaw, deputy minister, representatives on economy and finance from Amyotha Hluttaw and Pyithu Hluttaw, ministers for commerce of region and state cabinets, special guests from WB, and responsible officials from UMFCCI.—Myanmar News Agency

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