The EU, DFID, USAID, JICA, the UNDP and other development partners will provide necessary assistance that helps support the priority works for Myanmar Export Industry Development Program, according to the Ministry of Commerce.
For boosting the export sector, the ministry will implement the National Export Strategy (NES) (2020-2025) which cover the priority sectors including textile and garment, agro product and basic foodstuff manufacturing sectors and 18 supportive sectors.
U Aung Soe, the permanent secretary of the Commerce Ministry said, “ The NES’s objectives, goals, priority sectors and 18 supportive sectors were approved at the cabinet meeting on 5 November, 2019.
The NES’s priority sectors are: machinery & electrical equipment, textile & garment, forest products, agro-food processing, fisheries, digital products and services, rice, pulse & bean and oilseeds, rubber, tourism, fresh fruits and vegetables, gems and jewellery, handicrafts, quality management, logistics services, trade information, innovation and entrepreneurship and access to finance.
The ministry has set a goal of hitting a threefold increase in the export. Currently, the exports increased twofold than 2015, said Deputy Commerce Minister U Aung Htoo.
The ministry’s main objective is to ensure the economic growth through export promotion.
In 2019-2020 fiscal year, trade deficit is expected to hit last year’s figure of 500 million US dollars. But in practice, the ministry faces many difficulties achieving the goal, Union Minister for Commerce Dr. Than Myint.
