01 September 2015 – The Philippine Department of Trade and Industry (DTI), in cooperation with the Philippine Embassy in Yangon, successfully concluded the Roundtable Discussion on the ASEAN Economic Integration held on August 26 at the Chatrium Hotel in Yangon, Myanmar.
DTI Director Senen M. Perlada provided an overview of the endeavor to establish an ASEAN Economic Community (AEC). He emphasized the need for small and medium enterprises (SMEs) from both countries to take advantage of the regional market and production hub that the AEC envisions to establish.
Directorate of Investment and Company Administration (DICA) Director Malar Myo Nyunt, addressing Philippine SMEs, discussed the procedures and laws governing Foreign Direct Investments (FDI) in Myanmar. Picking up on Director Malar Myo Nyunt’s discussion, Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) Vice President Dr. Maung Maung Lay, Kelvin Chia Yangon Ltd. Senior Partner Atty. Pedro Bernardo, and Waterstone Consultancy Managing Director Norberto Ong shared their experiences in navigating Myanmar’s rapidly changing business environment.
The business matching event which followed the roundtable discussion was also a success. It provided an opportunity for six Philippine SMEs from different sectors---snack food, pharmaceutical, furniture, and leisure and travel---to meet with close to 20 Myanmar SMEs.
On August 27, the 12-member Philippine business delegation paid a courtesy call on Philippine Ambassador to Myanmar Alex G. Chua and conducted market scanning activities. Ambassador Chua expressed hope that more products from Philippine SMEs will be made available in the market as the ASEAN moves closer towards establishing an economic community. END