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Burma's economic relations with ASEAN

Individual Documents

Title: East Asia Pacific Update, April 2015: Adjusting to a Changing World
Date of publication: April 2015
Description/subject: "In the six months since the previous East Asia and Pacific Economic Update , the regional economic landscape has been dominated by two key developments in the global economy. First, there has been a sustained decline in world oil prices. This is already exerting, and will likely continue to exert, a differential impact on the performance and prospects of countries, depending on whether they are fuel importers or exporters. Second, there has been a rapid dollar appreciation against the euro and the yen. Most regional currencies have depreciated to only a limited extent against the dollar, implying significant appreciations in real, trade-weighted terms. Growth in developing East Asia and Pacific moderated from 7.2 percent in 2013 to 6.9 percent in 2014, reflecting slowdowns in China and some ASEAN-4 economies. Nonetheless, the region still accounted for more than one-third of global growth, twice the combined contribution of all other developing regions. In China, growth decelerated by 0.3 percentage points, as attempts to contain credit growth and reduce overcapacity were partly offset by measures to avoid a sharp slowdown. In the rest of the region, growth fell by 0.6 percentage points. Within the ASEAN-4, growth dropped most sharply in Thailand, to 0.7 percent, as a result of prolonged political turmoil; the economy began to recover only in late 2014. Indonesia was affected by weakness in its terms of trade and commodity exports, and by the continued impact of policy tightening aimed at addressing external financing constraints. Growth remained generally robust in the region’s smaller economies, including Cambodia, Lao PDR, and Myanmar. Most countries continued to rebuild the fiscal buffers eroded by stimulus spending in the wake of the global financial crisis, but challenges remain. Fiscal balances broadly continued to improve, particularly in Malaysia and the Philippines. Indonesia, Malaysia, Thailand, and Vietnam further rationalized fuel subsidies or raised fuel taxes. However, in Mongolia and to a lesser extent Lao PDR, both deficit and debt levels remain elevated; in Myanmar, a sizable deficit has emerged; in Vietnam, public debt continues to rise; and Malaysia’s public debt remains high..."
Language: English
Source/publisher: World Bank Group
Format/size: html
Date of entry/update: 07 May 2015

Date of publication: July 2010
Description/subject: I. The Social Impact of the Financial Crisis and the Government’s Responses... II. Social Protecti on Programmes... III. P Policy Iss ues... References
Language: English
Source/publisher: ASEAN
Format/size: pdf (773K)
Date of entry/update: 06 October 2012

Title: Analysis on International Trade of CLM Countries
Date of publication: August 2009
Description/subject: Abstract: "Since their accession to AFTA, trade volumes of CLM countries have being grown rapidly while their trade patterns and directions have significantly changed. Recognizing the importance of international trade in CLM [Cambodia, Laos, Myanmar]economies, this study attempts to analyze the trade patterns of CLM countries based the gravity model. The empirical analysis is conducted to identify the determining factors of each country's bilateral trade flows and policy implications for promoting their trade. The results indicate that CLM's trade patterns are mainly affected by partner country's GDP, the difference between per capita GDPs of two countries, distance, common border, and presence in particular FTA. Their trade relations with East Asian countries mainly China, Japan and Korea have yet to be exploited to their full potential. These findings suggest that CLM countries needs to promote their bilateral trade with countries in close proximity and having large economic size and high consumers' purchasing power through accelerating their trade liberalization efforts in FTAs in progress."..... Keywords: CLM countries, ASEAN, East Asia, FTA, Bilateral trade
Author/creator: Nu Nu Lwin
Language: English
Source/publisher: Institute of Developing Economies (IDE), JETRO
Format/size: pdf (589K)
Date of entry/update: 04 January 2010

Title: Foreign Direct Investment Relations between Myanmar and ASEAN
Date of publication: April 2008
Description/subject: Abstract: Myanmar highly appreciates foreign direct investment (FDI) as a key solution reducing the development gap with leading ASEAN countries. Accordingly, it is welcomed by the government. Myanmar's Foreign Investment Law was enacted in 1988 soon after the adoption of a market-oriented economic system to boost the flow of FDI into the country. Foreign investors positively responded to these measures in the early years and FDI inflow into Myanmar gradually increased during the period from 1989 to 1996. However, after 1997, FDI inflow was dramatically reduced and markedly declined until 2004. In 2005, FDI inflow increased at an unprecedented rate and reached the highest level in the country's history. However, this growth was not sustainable in the subsequent years, as it declined again and turned stagnant at the previous level. In terms of source regions, ASEAN is a major investor in Myanmar, which investment is significantly exceeds the combined investment of other regions of the world. Among top ten countries, Thailand's investment alone is significantly more than combined total investments of the other nine countries. Next to Thailand in terms of investments in Myanmar are Singapore and Malaysia among ASEAN, at second and third places, respectively. The combined total FDI inflows into the power and oil and gas sector represent about 65 percent of the total investment. There are many opportunities for foreign investment in other sectors, which are not, yet exploited. ASEAN countries will certainly be source countries of Myanmar FDI in the future, and Myanmar should expand to other Asian countries like Japan, India, China, Korea, and Hong Kong where its FDI portfolio is concerned. To effectively attract FDI into the country, Myanmar needs to minimize the effect of policy while opening and encouraging other potential sectors of FDI to foreign investors in ASEAN and Asian countries.... Keywords: foreign direct investment (FDI), Myanmar, ASEAN, Myanmar Investment Commission (MIC)... JEL classification: F21, L10, O11
Author/creator: Thandar Khine
Language: English
Source/publisher: IDE DISCUSSION PAPER No. 149
Format/size: pdf (580K)
Date of entry/update: 30 December 2008