The EU has pledged €8 million in funding to develop Myanmar trade. It supports initiatives within the ARISE Plus Myanmar program. The latter is designed to bring Myanmar businesses up to international standards. The International Trade Centre will partner with the World Trade Organisation. They plan to roll out the funding over the course of the next four years, according to a press release. Goals for the new funding include supply chain development, forming sustainable trade policies, developing value-added export products and better job opportunities for the nation’s poor, especially women.

Although international sanctions have been lifted in recent years, Myanmar has struggled to position itself in the export market. Agriculture accounts for almost 40% of the nation’s GDP. Nevertheless, the majority of crops it grows do not meet standards for US or EU markets. Likewise, Myanmar exports very little value-added products, such as tinned food.

“We’re very honoured to support Myanmar through the ARISE Plus Myanmar project to further diversify its trade and enhance its integration, regionally and internationally,” said Johann Hesse, the EU delegation to Myanmar’s head of cooperation. “The EU remains committed to assisting Myanmar in achieving these important objectives.”