US to help Myanmar to participate in AEC

U.S to help Myanmar to participate in AEC

Published on Monday, 02 September 2013 20:22

The United States will provide assistance to Myanmar to participate in ASEAN Economic Community (AEC) according to officials. 

The AEC will start on December 31 2015 and aims to promote free trade between ASEAN nations. Myanmar's Ministry of National Planning and Economic Development is tasked with involving Myanmar in the AEC, despite lagging in development compared to its neighbours.

The government has also pointed out weak points in joining the regional bloc such as having to reduce bank interest rates, issue required laws and not to provide the assistance for the manufacturing of high quality products. Local businessmen are also lacking basic knowledge and information regarding the AEC.

In private sector, local company Parami Companies Group is holding the business forums in Yangon, Mandalay, Kayin and Mon States to encourage participation in the AEC. The group has already sent the results of discussions with local residents to the Ministry of National Planning and Economic Development, including the President.

The group is sending the reports of the government's needs to the departmental officials to provide the assistance for local entrepreneurs. 

Cambodia, Laos, Myanmar and Vietnam are the least developed countries in the regional bloc. Vietnam has already pledged its participation to the AEC. 

 

http://www.information.myanmaronlinecentre.com/us-to-help-myanmar-to-participate-in-aec/