Still no sign of trade talks between Myanmar junta, Trump administration

Two senior regime officials pegged to lead trade talks with the administration of US President Donald Trump have both denied being assigned to the role. Dr. Zaw Oo, an economist recently appointed to the junta-controlled Central Bank of Myanmar’s board of directors, and Min Min, the regime’s deputy minister for commerce, told Myanmar Now they weren’t aware of any plans to form a trade delegation. “I haven’t been assigned any responsibility” related to trade negotiations, said Zaw Oo, who is also director of the Myanmar Narrative Think Tank, which advises the junta on economic policy. He also noted that such talks would need to begin before August 1, the deadline for the start of tariffs set by Trump in a letter sent to junta chief Min Aung Hlaing on July 7. In that letter—which the Myanmar dictator greeted as a sign of recognition of his regime—Trump warned that exports from the country would face a tariff rate of 40 percent unless a trade deal could be reached. Thirteen other countries, including Japan, South Korea, Malaysia, Indonesia, and Thailand, received similar letters on the same day. In response, Min Aung Hlaing released a statement two days later praising Trump and proposing a tariff rate of 10-20 percent on Myanmar goods going to the United States, and 0-10 percent on US exports to Myanmar. “If needed, a high-level negotiation team will be despatched as quickly as possible to the US to discuss with the relevant authorities,” he added. Dr. Zaw Oo, a member of the Central Bank of Myanmar’s board of directors However, Min Min, the regime’s deputy commerce minister, has also confirmed that no concrete steps have been taken to send a delegation to Washington for talks with US officials. “I haven’t received any instructions yet. Nothing has been said about going officially. I’m not sure yet about [the negotiation plan],” he told Myanmar Now on Monday. Meanwhile, other countries in the region, including some that compete with Myanmar in low-wage industries such as garment manufacturing, have already made progress in working out deals with the US, which is the world’s leading market for such products. “Their negotiations are quite advanced,” said Zaw Oo, who described Myanmar’s failure to keep pace with its competitors as “a worrying situation for us.” Bilateral trade between Myanmar and America is valued at around US$600-700 million annually, most of it in exports of garments and agricultural products to the US. In his statement, Min Aung Hlaing pointed out that Myanmar has been hit by a series of major setbacks in recent years, including the lingering impact of the Covid-19 pandemic five years ago and a devastating earthquake that struck near Mandalay on March 28. He also mentioned “significant challenges” that his regime has faced since seizing power more than four years ago, in apparent reference to the armed resistance movement that his takeover has unleashed across much of the country.

Still no sign of trade talks between Myanmar junta, Trump administration

Two potential trade negotiators for the regime have both denied being assigned to hold talks

Subscribe for full access

Across a border and into a war: A Karenni leader’s final journey

When going home is impossible: Myanmar nationals find solace in Singapore’s Peninsula Plaza

The Russian general behind Moscow’s decades-long military courtship of Myanmar

Explainer: Who are the companies and cronies backing Myanmar junta leader’s Thailand visit?

Subscribe for full access

Related Articles

Myanmar military kills six in paramotor attack on village near Magway-Rakhine border

Norway charges Telenor with dual human rights and sanction breaches

Dozens of Myanmar junta POWs escape detention in Chin State

Only one of 20 junta flotilla vessels able to return from Bhamo: KIA