Maersk Line, along with MCC Transport and Safmarine, which are all subsidiaries of the AP Moller-Maersk Group, will establish their own agency in Yangon in May 2014.
AP Moller-Maersk pointed out that macro-economic indicators are signalling a continuous expansion of growth in Myanmar due to infrastructure development and investments in industries such as agriculture and garment. Trade is also expected to grow as demand for consumer products increases on the back of the 60 million population.
“We are pleased to be granted a permanent business licence to operate our own agency in Myanmar. Since the EU and US eased sanctions in 2012, we have experienced a surge in interest in sourcing goods to and from Myanmar,” said My Therese Blank, country manager of Myanmar.
“Containerised trade (in Myanmar) has been growing by 17% annually on average from 2007 to 2013, and we expect the positive trend to continue. By 2020, container volumes indicate a potential growth to 600,000 feu, which is four times the current levels.”
The Maersk Group's three container businesses have operated under a third party agency in the Southeast Asian country for the past 20 years.
By establishing its own agency, the company believes it will be better able to take part in facilitating global trade, develop Myanmar's transport industry and supply chain, increase the country's competitiveness in the international market, and offer support and local know-how to customers looking to enter the market.
source: Seatrade Global