September 25, 2019
Launching Ceremony for Myanmar Services Trade Enhancement Project was held at Horizon Lake View Resort Hotel at 9 am in Nay Pyi Taw yesterday.
At the event, Deputy Minister for Commerce U Aung Htoo said that Myanmar is successful in trade to a certain extent. Service industry must develop with trade. Towards that end, Myanmar Services Trade Enhancement project will be carried out from June 2019 to June 2022 to support GDP and job opportunities of Myanmar. Transparency is a necessity in service industry , and young entrepreneurs must be competitive in Myanmar economy.
Then, the Enhanced Integrated Framework( EIF) Executive Director, Dr Ratnakar Adhikari said that Myanmar is about to get LCD graduation which means getting out of the list of least developed countries. So it is important to engage more in service trade. Business sectors such as travel, banks, production of export items must be extended. Some relaxations are needed for trades in services. The EIF will assist service industry, which is a driving force for Myanmar to get out of Least Developed Countries. Since Myanmar has successfully implemented former projects, it is truely believed that this project will also be successful like its precursors.
Then, the Deputy Minister and the attendees had their group photo taken, and they looked around booths of exhibitions.
Then, discussions were made on the topic of Current Situation and Potential for E- commence In Myanmar. During the secession, digitalized businesses, E payment, and technical support. The representatives then held talks on the components of the projects.
The project is to fund Myanmar under the EIF assisted by the World Trade Organization for trade development in the least developed countries. A total of US$ 2.1 million will be funded for the project from 2019 to 2022.—MNA
(Translated by Alphonsus)
(GNLM)
