WTO members interested in Myanmar's economy

Member countries of the World Trade Organisation (WTO) have shown keen interest in learning more about making investments and business opportunities in Myanmar as the country plans to build special economic zones, according to general council of WTO.

Thilawa, one of SEZs currently under construction and largely invested by Japan, is very interesting for foreign countries as well as Myanmar people. Kyaukphyu SEZ to be built in Rakhine State is still at a stage of selecting its developers and Dawei SEZ to be built in Tanintharyi Region faced delays due to financial problems and investment obstacles. 

Deputy Director General Min Min of the Commerce Ministry said that Myanmar will have to submit its trade policy report every six years as a least developing country as its trade policy will be reviewed under the Trade Policy Review Mechanism of the Trade Policy Review Body as a WTO member.

A statement released after reviewing Myanmar's trade policy said that Myanmar welcomed the first trade policy review as a preliminary member of WTO and GATT at the trade council meeting of WTO on March 11, 2014, and that it expects trade and trade policies will be better as the review would support cooperation between various ministries.

Myanmar answered up to 197 written questions sent by almost all WTO member countries in the first review.

The questions focused mainly on investment, taxation, revenue, privatization process of state-owned businesses, agriculture and supporting features in the country.