Nay Pyi Taw July 28
NAY PYI TAW – Union Minister for Investment and Foreign Economic Relations, U Thaung Tun today held a virtual meeting with the members of the US-ASEAN Business Council led by its President and CEO, Mr. Alexander C. Feldman and Ambassador Michael W. Michalak, Senior Vice President, and Regional Managing Director. The meeting was attended, among other, by representatives of Chevron, Coca-Cola, Chubb, Visa, Scoular, ExxonMobil and Pernod Ricard.
The Union Minister offered a comprehensive overview of the measures taken by the Myanmar Government to mitigate the social and economic impacts of COVID-19 on the Country’s economy in keeping with the COVID-19 Economic Relief Plan, (CERP) which in turn complements the longer-term Myanmar Sustainable Development Plan (MSDP). The Minister also expressed thanks to the Government and people of the US for their generous support in the efforts to overcome the challenge posed by the COVID-19 pandemic.
The Union Minister noted that while US-Myanmar trade relations had improved steadily over the years, given the US ranks 13th out of 51 countries in terms of FDI approvals, there was ample room for further growth.
US-ASEAN Business Council members voiced their support for Myanmar’s ongoing trade liberalization measures, including the lifting of a ban on spirits in line with the World Trade Organisation rules, and expressed willingness to continue cooperating to enhance the capacity of SMEs, including through partnering with local businesses.
The US-ASEAN Business Council is a leading advocacy group that aims to foster economic growth and trade ties between the US and the Association of Southeast Asian Nation’s ten member countries.
