Jun 29, 2012

U.S. Companies to Visit Myanmar as Businesses Expand Asia Reach

U.S. companies based in Southeast Asia are planning a trade mission to Myanmar in August as businesses seek new markets in one of the world’s fastest- growing regions. 

Twenty delegates led by U.S. Ambassador to Singapore David Adelman and Kevin Thieneman, president of Caterpillar Asia, will visit the Southeast Asian nation from Aug. 12 to Aug. 16, the American Chamber of Commerce in Singapore said in a statement yesterday. They may meet with senior government officials, it said.

Myanmar is enhancing economic, military and political ties with Western nations after years of isolation that left its 64 million people among Asia’s poorest. The country’s transition to democracy in recent months after about five decades of military rule prompted the U.S. to ease sanctions in May.

Developing Asian economies are forecast by the International Monetary Fund to expand 7.3 percent in 2012, exceeding the global average of 3.5 percent. Coca-Cola Co. said this month it would return to Myanmar for the first time in 60 years once the U.S. government licenses the investment.

Source: Bloomberg Businessweek


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