The Ministry of Commerce has signed a financing agreement with the European Union to acquire assistance up to 8 million euros over a four-year project through separate implementations known as ARISE Plus Myanmar initiatives.
In this regard, the ARISE Plus Myanmar Trade-Related Assistance Project was formally introduced to the general public at Nay Pyi Taw’s Park Royal Hotel yesterday morning.
Union Minister for Commerce Dr Than Myint first spoke at the opening ceremony where he expressed his belief that Myanmar will gradually carve a place for themselves in ASEAN, EU and international markets by producing high-quality finished goods.
Next, EU Ambassador Mr Kristian Schmidt and International Trade Center (ITC) Executive Director Ms Maria Arancha Gonzalez gave separate addresses and took a documentary photo with attendees.
This was followed by ITC’s Senior Trade Promotion Officer Ms Sylvie Betemps Cochin explaining the objectives and progress of the ARISE Plus Myanmar project, Assistant Director Daw Su Thet Hnin of the Trade Department explaining how the project will support the Myanmar Sustainable Development Plan and their interconnectedness, and Deputy Director-General U Ko Ko Lay giving the closing address.
Present at the event were representatives from EU, affiliated development organizations, private organizations tasked with project implementation, related associations and department officials.
Background on ARISE+
The ARISE Plus Myanmar project will be implemented from July 2019 to June 2023 with ITC acting as the implementing agency for the initiatives. It aims to contribute inclusive and sustainable growth and supports greater connectivity and economic integration between Myanmar, ASEAN and the global economy.
The project supports micro, small and medium sized enterprises (MSMEs) in Myanmar to explore business opportunities in the ASEAN single economic space, European Union (EU), and global markets. It also addresses compliance with Sanitary and Phytosanitary (SPS) measures in line with ASEAN and international commitments.
The project provides trade policy formulation and implementation assistance for Myanmar to meet regional (ASEAN) and international (World Trade Organization – WTO, EU) commitments and addresses non-tariff barriers (NTBs) along value chains. It also aims to create more employment opportunities for women.
After the event, Union Minister Dr Than Myint met with the EU Ambassador and ITC Executive Director at the guest hall of Park Royal Hotel. They discussed the project’s action plans to develop Myanmar’s trade industry and ITC’s assistance towards local MSMEs to achieve global market reach.—MNA (Translated by Zaw Htet Oo)