News Feed

Reinstating Generalised System of Preferences (GSP) benefits is one of several significant adjustments to US foreign policies towards Myanmar.
Welcoming Aung San Suu Kyi to Washington, DC, President Barack Obama affirmed the commitment to deepen the US-Myanmar partnership. This includes the restoration of the GSP trade benefits to Myanmar in light of progress on a number of fronts, including strengthening protection for internationally recognised worker rights.
In a statement by the US Department of State, the remaining sanctions will be lifted while the US also anticipates expanding people-to-people ties, deepening bilateral economic engagement, continuing to work towards an open skies treaty, and initiating a new USAID (United States Agency for International Development) loan-portfolio guarantee.
At their meeting, both leaders recognised the important role of small and growing businesses in supporting inclusive economic growth. The United States intends to sign a loan guarantee with five local microfinance institutions to support more than US$10 million (Bt349 million) in loans to small businesses in Myanmar, which will increase access to food and support employment opportunities for communities in Myanmar.
They also shared an interest in enhancing bilateral economic engagement and exchanging views on laws and practices that affect bilateral investment flows and foreign investment.

LOGISTICS REPORT

Thailand, Singapore, Malaysia and Indonesia all outperformed the East Asia and Pacific regional average in the Logistics Performance Index, part of the bi-annual report published by the World Bank Group, “Connecting to Compete 2016: Trade Logistics in the Global Economy”.
Though above average, Thailand’s score was 3.26, a decrease from 3.43 in 2014 report. Its ranking also fell from 35th to 45th. Thailand is among four countries showing negative change in the two years, the others being Malaysia, Haiti and Tajikistan. Among 167 countries, 135 showed no change in their performance.
Germany ranked first for the second year in a row, followed by Luxembourg, Sweden, the Netherlands and Singapore. Singapore was among the world’s top 10 performers, ranking fifth overall, and topped the list of Asean countries.
Cambodia and Myanmar improved their performance.