Myanmar and the TRADE POLICY REVIEW MECHANISM (TPRM) Trade Policies Review Division World Trade Organization January 2015

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1 Myanmar and the TRADE POLICY REVIEW MECHANISM (TPRM) Trade Policies Review Division World Trade Organization January 2015

2 1. First Trade Policy Review of Myanmar TPRB Meeting took place on 11 and 13 March The delegation from Myanmar was led by H.E. Dr. Pwint San, Deputy-Minister, Ministry of Commerce. The discussion was led by the discussant, H.E. Mr. Hamish McCormick (Ambassador of Australia). The meeting well attended with 25 Members taking the floor. Myanmar responded in writing to about 200 written questions from 16 Members received in advance of the TPRB meeting. Documents and proceedings are published, same approaches with any other WTO Members.

3 2. Relevance of the WTO Trade Policy Review for Myanmar Opportunity for international and domestic transparency Opportunity to promote internal policy coherence within the Government Opportunity to welcome the progress that Myanmar made in its trade policy Opportunity to gather observation and constructive criticism from other WTO members on areas for future improvement Opportunity to clarify Myanmar s technical assistance needs.

4 3. BROAD OBJECTIVE OF THE TPRM ACHIEVING GREATER TRANSPARENCY IN, AND UNDERSTANDING OF, THE TRADE POLICIES AND PRACTICES OF MEMBERS.

5 4. ROLE OF THE TPRM NOT A LEGAL EXERCISE. NOT A BASIS FOR ENFORCING OBLIGATIONS UNDER WTO AGREEMENTS, OR FOR DISPUTE SETTLEMENT PURPOSES. NOT TO IMPOSE NEW RULES ON MEMBERS.

6 4. MAIN ASPECTS OF TPR (i) DESCRIPTION OF NATURE OF POLICIES AND MEASURES (WHAT?); (ii)their RATIONALE meeting their objectives); (WHY? Are they (iii) ECONOMIC EVALUATION OF EFFECTIVENESS IN ACHIEVING OBJECTIVES (COST-BENEFIT ANALYSIS);

7 5. BASIS FOR TPRB MEETING TPRB MEETING on Myanmar s Trade Policy was based on: SECRETARIAT REPORT (ON ITS OWN RESPONSIBILITY what has happened during the period under review) (WT/TPR/S/293/Rev.1); GOVERNMENT REPORT BY MEMBER UNDER REVIEW (policy statement, forward looking) (WT/TPR/G/293); AND STATEMENTS MADE AND QUESTION AND ANSWER EXCHANGE WITH MEMBERS (written and oral) and CONCLUDING REMARKS BY CHAIRMAN (WT/TPR/M293 and M/293/Add.1).

8 5. SECRETARIAT'S REPORT SECRETARIAT REPORT SEEKS TO: REVIEW OF MAIN TRENDS & RECENT DEVELOPMENTS; EVALUATE TRADE & TRADE-RELATED POLICIES & MEASURES; ANTICIPATE ISSUES THAT MIGHT BE RAISED BY MEMBERS AND CLARIFY SUCH ISSUES. IN DOING SO, HELP PREPARE MEMBER UNDER REVIEW FOR TPRB MEETING (preparation takes several months, during which the Member under review and the Secretariat will normally have frequent dialogues).

9 5. TYPICAL SECRETARIAT REPORT SUMMARY I. ECONOMIC ENVIRONMENT II. TRADE AND INVESTMENT REGIME III. TRADE POLICIES & PRACTICES BY MEASURE IV. TRADE POLICIES & PRACTICES BY SECTOR

10 6. GOVERNMENT REPORT GOVERNMENT REPORT MAY, INTER ALIA, SEEK FROM ITS OWN PERSPECTIVE TO: REVIEW MAJOR TRENDS & RECENT DEVELOPMENTS; PRESENT OWN VIEWS ON MAJOR POLICIES AND THEIR EVALUATION; ANTICIPATE & CLARIFY ISSUES; AND INDICATE FUTURE DIRECTION OF KEY TRADE & TRADE-RELATED POLICIES.

11 7. Members statements and question and answer exchange Opportunity to gather observation and constructive criticism from other WTO members on areas for future improvement Also published in the public domain for transparency Questions and concerns concerned various areas including: foreign exchange regime; FDI and business environment; transparency/predictability of the trade and investment regime including WTO notifications; tariff bindings and discrepancies; the gap between applied and bound tariff rates; import/export licensing requirements; customs valuation; special economic zones; trading rights; State-owned economic enterprises and state trading arrangement; contingency measures; government procurement; SPS and TBT issues; IPRs protection; and financial sector reforms.

12 8. CONCLUSION - What next? NEXT REVIEW IN 6 YEARS (2020) PREPARATION FOR THE NEXT REVIEW: AN OPPORTUNITY FOR THE GOVERNMENT TO REVIEW AND IDENTIFY AREAS WHERE REFORMS ARE NEEDED BUILD ON THE OUTCOME OF THE 2014 REVIEW TO IDENTIFY TECNHICAL ASSISTANCE NEEDS FOR MYANMAR TO START DIALOGUE WITH POSSIBLE DONORS ADDITIONAL FOLLOW UP TO CHECK PROGRESS IN REFORMS AND ASSISTANCE NEEDED

13 TPR Follow-up Workshop: Myanmar TA and Capacity Building Priorities 21 January 2015

14 List of Priorities Areas In the context of TFA implementation Training of trainers in Harmonized System Advanced Ruling Authorized Economic Operators Post Clearance Audit Notifications Agriculture Other WTO Agreements Assistance to formulate TBT and SPS Regulations Intellectual Property Regulations Institutional setting Enforcement Awareness

15 List of Priorities Areas-2 Strengthening Trade Statistics Integrated trade statistics software Computing trade in services statistics Accessing and using Web-based trade statistics Assistance in Completing New Legislation on: Customs Valuation Competition Policy Education and awareness activities for consumer protection

16 World Trade Organization Trade Policy Review Mechanism Follow up workshop Trade Policies Review Division (TPRD) January 2015

17 Issues raised by secretariat and Data members The WTO Secretariat found that various economic data from different government sources, as well as those from different international organizations varied significantly, making them difficult to reconcile; comparison of data over years was difficult, partly due to the existence of multiple exchange rates. For meaningful policy formulation, accurate data pertaining to inter alia: national accounts, trade and balance of payments would be needed.

18 Infrastructure and capacity constraints The Secretariat, WTO Members and the Myanmar authorities all acknowledged the lack of implementing capacity and poor infrastructure to be the main impediments to implementing the reform program. Exchange rate unification to improve external competitiveness and the business environment. With a view to increasing revenues, modernizing the existing tax administration system an processes.

19 Transparency and predictability Transparency and predictability are key elements of assuring efficient trade and related policies. Concerns about the lack of transparency were also raised. Of special concern was the lack of available laws and regulations online (preferably in English). Many Members also expressed concerns regarding lack of notifications to the WTO.

20 Business environment Members expressed concerns regarding impediments to doing business in Myanmar. In particular, the time required to setup a business, archaic company laws and the lack of access to credit were highlighted. Lack of bankruptcy law. Protection of property rights.

21 Foreign direct investment (FDI) Members raised many questions concerning Myanmar s policies on foreign direct investment (FDI). Questions were raised in areas including the new FDI Law, reductions in restricted areas, and a further revision to the FDI and investment-related legislation.

22 Regional Trade Agreements (RTAs) Liberalizing intra ASEAN trade by 2015 liberalization in Myanmar

23 Import procedures and customs valuation Unless registered under the Foreign investment Law, importers need to be Myanmar nationals. Customs clearance takes 3 days, implementation of the TFA, ASYCUDA or the ASEAN single window would greatly improve clearance times. Currently Myanmar does not apply the WTO customs valuation agreement, but uses real value for valuation purposes.

24 Tariffs (1) Concern was expressed about the significant water between bound and applied rates. Low coverage of bound rates. Prevalence of nuisance rates. Applied rates exceeding bound rates.

25 Tariffs (2) Many Tariff bands (15), makes the tariff complex.

26 Other issues affecting imports Conversion of certain tariffs to excise duties. Complicated and long duty drawback system. Lack of legislation pertaining to contingency measures. No specific legislation governing public procurement. Creation of a National Standards Council and development of a standards law.

27 Import licensing Prior to June 2012, all imports into Myanmar required a non-automatic import license. This has changed since June 2012, when the Government eased import licensing requirements for 166 commodities (these correspond to more than 1,900 tariff lines) by allowing their importation with an automatic license. Subsequently, in April 2013, all licensing requirements for these commodities were abolished. Nonetheless, under the provisions of the Control of Imports and Exports (Temporary) Act 1947, most goods imported into Myanmar still require an import license. Most of these are to be gradually abolished.

28 Export issues and export licensing Only Myanmar nationals may engage in international trade; however, foreign investors registered under the Foreign Investment Law as manufacturers may export their finished goods. Exporters of most products require an export license prior to exporting. However, it would appear that the Government is restructuring its export licensing regime. The authorities state that, from 2013, 152 types of goods no longer require export licenses.

29 Tax regime The tax regime in Myanmar is complex. Myanmar has 14 different taxes and duties under the major headings: taxes levied on domestic production and consumption (excise duty, commercial tax, stamp duty, state lottery, import license fees, transportation tax); taxes levied on income and ownership (income tax); customs duties; taxes levied on public utilities such as land, water and embankment; and taxes on extraction of forest products, minerals, rubber, and fisheries.

30 State-owned economic enterprises Almost all SEEs are making losses: SEEs spend 75% of the total government budget, and their annual losses are estimated at about 5% of GDP. The authorities consider that barriers for further development of SEEs include lack of a healthy financial system, low technology, and lack of market access and skilled labor. Questions were raised about SEE reform.

31 Small and medium enterprises SMEs contribute to employment creation, resources utilization, income generation, and investment promotion, the Government pays special attention to facilitating their development, so that SMEs become larger and more competitive and innovative in the international market. SME Law, with the objectives of: improving human resources development, boosting technology innovation, facilitating access to investment, improving infrastructure, and reviewing tax and other business-related regulations.

32 Competition policy and consumer protection Myanmar is drafting a competition law, which is expected to be promulgated before According to the draft, there will be a Competition Commission, which will act as the enforcement authority to control and monitor competition. Apparently, the Competition Law is to cover all sectors in the economy. Myanmar is also drafting a Consumer Protection Law to be completed before 2015.

33 Intellectual property rights Intellectual property legislation is dated. Questions were raised about updating the existing laws. Furthermore enforcement of intellectual property rights is also weak and needs strenghtening.

34 Sectoral issues Agriculture, forestry, and SPS issues. Energy Manufacturing Banking and Insurance Telecommunications Air Transport Maritime transport and port services Tourism

35 Other issues

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