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Economy, Foreign Trade

Association of Southeast Asian Nations, rebel groups, illegal trade, India legal, official currency

All foreign trade is controlled by the government, but since 1990 firms have been able to directly participate in trade. By making cross-border trade with China, Thailand, and India legal, the government has been able to collect more taxes and lessen black market trade with Thailand by rebel groups. Since the exchange rate for the official currency is high and a number of regulations remain, much illegal trade still takes place. In 2000 exports were valued at $1.39 billion. Exports typically consist of beans, rice, and teak and other hardwoods. The United States, India, China, Japan, Singapore, Germany, and France are the main purchasers. Imports are mainly machinery, transportation equipment, chemicals, and food. In 2000 they totaled $2.4 billion. Singapore, China, Malaysia, South Korea, Japan, and Indonesia are the primary suppliers. In 1991 the United States and the member nations of the European Union (EU) imposed trade sanctions against Myanmar in response to alleged human rights violations. Strong, additional trade sanctions were imposed by the United States in 1997, again in response to human rights abuses by Myanmar’s military government. The sanctions restricted new investment in Myanmar by U.S. companies. In 2000 the EU also increased sanctions against Myanmar. Meanwhile, Myanmar expanded trade with its Asian neighbors, especially member states of the Association of Southeast Asian Nations (ASEAN).



Article key phrases:

Association of Southeast Asian Nations, rebel groups, illegal trade, India legal, official currency, exchange rate, human rights violations, member nations, human rights abuses, member states, teak, foreign trade, Imports, beans, ASEAN, hardwoods, transportation equipment, rice, South Korea, European Union, taxes, exports, Thailand, Japan, Malaysia, France, Indonesia, number of regulations, China, chemicals, Germany, Singapore, machinery, firms, response, United States, food, companies, place

 
 

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