Business breakthrough in Burma as UK opens first new Chamber of Commerce

Burma – which had a 244% leap of imports from the UK of £12.8m to £44m in 2013 – today (Wednesday) sees the launch of a ground-breaking Chamber of Commerce.

The UK is the first country to launch a completely new, locally registered Chamber in the attractive emerging Asian market.

The role of the Chamber is to promote, foster, support, and represent UK business interests in Burma (or Myanmar) – directly helping British firms identify market opportunities and providing them with a first port of call when looking to trade in that particular market.

John Longworth, Director General of the British Chambers of Commerce, said: “Burma is the fastest growing economy in South East Asia, with goods exports seeing an increase of 244% in 2013.

“This highlights the opportunities that are available to UK firms in Burma, and we would urge more companies to explore this market with the help of the new Chamber.

“We are one step closer to helping the UK achieve the huge challenge set by the Prime Minister of increasing exports to one trillion by 2020. It won’t be easy, but I believe that with the right attitude and sheer determination, there is no reason why we cannot achieve this target.

“We at the BCC will continue to play our part by accrediting more overseas business networks in more countries across the world. But we still need more companies that haven’t exported before to have a go, and start saying yes to the opportunities in new markets across the globe.”

“It is crucial that businesses have a place to go and contacts to meet as soon as they step off the plane to get the most value out of their business trip. “

The latest development is part of the wider Overseas Business Networks Initiative (OBNi) – an ongoing partnership between the British Chambers of Commerce, UKTI and the Foreign and Commonwealth Office.

Lord Livingston, British Minister for Trade & Investment said: “I’m delighted to see the establishment of the first ever British Chamber of Commerce in Burma.

“The British Government recognises that Chambers of Commerce are an important way of supporting our businesses overseas which is why we are seed funding this Chamber through our Overseas Business Networks Initiative.

“Burma offers many exciting opportunities for British companies and the Chamber of Commerce alongside our UKTI team will support them in accessing those opportunities. I wish the Chamber every success.”

• The British Chamber of Commerce in Myanmar is being supported by four British businesses who are acting as founding patrons – BG Group, Jardines, Prudential and Standard Chartered Bank.
• The Chamber has five Gold Sponsors – Agrekko, British American Tobacco, Herbert Smith Freehills, Shell and Stephenson Harwood and it has already secured 86 founding members.

source: GT Global Trader

http://www.gtglobaltrader.com/news/business-breakthrough-burma-uk-opens-first-new-chamber-commerce