Business opportunities – for organisations in both Myanmar and in the EU Countries – have opened up since the EU has given a strong welcome to the changes in Myanmar. Including a positive acknowledgment for the outcome of the most recent By-Elections that were held on 1st April 2012.
Myanmar has been a World Trade Organisation member since 1995, and is also one of the 10 members of the Association of Southeast Asian Nations (ASEAN). The ASEAN countries group is the EU’s third largest trading partners outside of Europe, after the United States and China.
The EU works with Myanmar under the framework of the EU-ASEAN Cooperation Agreement, to ensure an effective environment for trade and investment relations.
The EU co-operates closely with the ASEAN region as a whole. Co-operation is maintained through the EU-ASEAN Dialogue, that includes discussions on trade and investment issues, at ministerial and senior economic officials level.
The EU seeks an active collaboration with the Myanmar Authorities, in a bid to assist the reform process, and to contribute to political, economic and social development.
Areas of cooperation include human rights, trade and responsible investment, biodiversity and deforestation; as well as health and education. The EU announced €150 million in new assistance for Myanmar during 2012 and 2013.
Strengthening the capacity of the public service – to design and implement reforms – will be a new area of cooperation. In addition to boosting assistance related to poverty reduction.