The Republic of the Union of Myanmar (formerly Burma) is a South-East Asian country bordering India, Bangladesh, China, Laos and Thailand. The country has a population of nearly 52.9 million inhabitants, over a total area of 678 528 sqkm (source: World Bank, 2016).
The favourable geographical situation of Myanmar, its young population that represents a significant workforce and an abundant natural resource base (agricultural, mineral, gas, hydroelectric, solar, etc.), have been a key factor in the dynamism of the agricultural sector and the good state of the service-providing industry. As a consequence, the country’s GDP growth reached 6.8% in 2017-2018, compared to 5.9% in 2016-2017 (source: Tresor).
Despite France’s presence in Myanmar in the construction, urban development and energy sectors, bilateral trade remains relatively low, leading to a trade deficit increasing significantly for France: +146% to -236M EUR in 2018. On the other hand, the expansion of the clothing industry and the gemstone market have contributed to the French import growth: +47% up to 330 million EUR.
In order to meet the needs of its customers on Myanmar market, Simon Associés has developed privileged relations with economic and legal partners locally.