Birma MyanmarBurma Myanmar
Burma - Trade - European Commission
The EU has gradually resumed its relationship with Myanmar since 2011, also in its trading and investing relationship. She has: started to negotiate an international treaty to protect investments. It sets out a roadmap for a consistent EU commitment and enhanced co-operation with the EU to meet the major challenge ahead. The Council adopted on 20 June 2016 the Council' s conclusion on an EU policy in which Myanmar welcomes this Communication.
The overall volume of trading between the two parties amounted to 2.09 billion euros. It was Myanmar's sixth largest trading associate. EU goods from Myanmar are valued at 1,549 million euros. Myanmar's main EU exports are clothing (72%) and farm produce. EU exports to Myanmar amounted to almost ?539 million.
EU main EU export to Myanmar is mainly driven by machines, transportation and chemical products. In 2013, the EU and Myanmar started to negotiate an EU-Myanmar trade defence treaty. An SIA supplemented the negotiation. Myanmar, as the Least Depleted Country (LDC), is benefiting from the EU Everything But Arms (EBA) programme, which is part of the EU's Generalised System of Preferences (GSP).
EBA grants duty-free and quota-free EU entry to the 47 least developed countries in the global - and Myanmar included - for all their EU export, except weapons and munitions. In May 2015, the EU began participating in the "Initiative to Promoting Basic Labor Laws and Practice in Myanmar" with the Myanmar government, the United States, Japan, Denmark and the International Labor Organization (ILO).
Aim of the project is to make the federal state an appealing trade and investments associate. Burma is one of the 10 member states of the Association of Southeast Asian Nations (ASEAN). As a group, these are the EU's second biggest trade partners outside Europe after China. Burma is one of the three most important LDC in the ASEAN area.
The EU-ASEAN work programme for EU-ASEAN comprises, for example, measures to reconcile the two areas and periodic talks between EU and EU leaders on the issue of both.