It is no doubt about that that International trade is the
exchange of goods and services between countries. It is actually types of trade
that allows for a greater competition and competitive pricing in the market.
Myanmar is a country where a lot of natural resources and agriculture have been
producing though it is still poor because it is not utilizing properly what it
has. The door of the foreign market in Myanmar has been closed for more
than four decades owing to its political unrest. However, on the wave of
demoralization, some of the systems such as education, economic and political
issue have already been changed. Therefore, on one hand, every single part of
the world is trying to invest in Myanmar. On the other hand, they all are also
trying to help the people of Myanmar as much possible as they could. In this
regard, International trade is a good part of country's GDP since it is one of
important sources of revenue for a developing country.
Having known Myanmar has been ruled by military gender since 1962. Therefore,
it has been used the close-door economic practice till the day comes the
sunshine of Democracy. Because of the policy of the military regime, the
outside world does not still trust Myanmar for business and market stability.
Over the last few years, International Labor Organization (ILO) refused to work
with Myanmar. However, with a new democratic government which will resume
governing from March 15, 2011, the government needs to reinforce domestic and
foreign policies and need to gain trust by political stabilizing and by signing
bilateral. It is doubtless to say that reciprocal agreement with different
governments and international trade ensuring harmonious with other countries
can bring international trade and foreign direct investment faster than ever
before. It is quite obvious that international trade can become part of a
developing nation's growth particularly Myanmar's. As mentioned above,
International trade plays a greater role to reach the goal which the people of
Myanmar are expecting because it is quite sure that it will give us hope for
our next negation and it will also give the people of Myanmar a greater variety
of products based on their companies. Therefore, Myanmar should also involve
itself more in international trade for specialization.
After performing open-door policy in 2005, Myanmar government launched the
market economy to trade goods and services internationally. If Myanmar actually
opens more flexible doors for foreign investments in all aspects, Myanmar can,
of course, be one of the driving forces for world, especially economic growth
as well as in all aspects for which the people of Myanmar are trying.
Having seen, Myanmar has been developing its trade relations with neighboring
countries, especially China and Thailand. In early 2011, many changes have
happened in Myanmar. Myanmar was facing economic sanctions nearly more
than three decades by the world, but now Myanmar government has been promoting
border trade with all neighboring countries as well as all part of the world.
Furthermore, free trade agreement between ASEAN countries will also be
implemented in Myanmar not later than 2015. For investment, foreign investment
in Myanmar has been raised sharply since 2008.
The most significant point is that Industry in Myanmar relies particularly on
trade. International trade also provides raw materials for industry. Myanmar
produces neither computer nor cell phone which must be imported. How poor
Myanmar is!!! In this regard, International trade will provide the importance
of the markets for Myanmar products. Myanmar employees will receive wages for
the production and distribution of all products. It is needless to say that
exports and imports will increase Myanmar GDP.
In conclusion, international trade plays a vital role in every nation's growth.
International trade and investment is the key to success because these can
enrich the production and economic growth not only for Myanmar, but for all.
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