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Acting U.S. Trade Representative Demetrios Marantis traveled to Yangon and Nay Pyi Taw on April 25-26, 2013 for discussions to re-establish a bilateral trade dialogue, address trade and investment issues, and support the government’s economic reform program. During the visit, he met with senior government officials – including Presidential Minister U Soe Thein, Commerce Minister U Win Myint, and Deputy Labor Minister U Myint Thein – and opposition leaders including Daw Aung San Suu Kyi. His visit marked the first official USTR visit since the country’s independence.
On May 21, 2013, the United States and Burma signed a Trade and Investment Framework Agreement (TIFA), creating a platform for ongoing dialogue and cooperation on trade and investment issues between the two governments. As part of this dialogue, the two governments will work together to identify initiatives that support the ongoing reform process and development activities that benefit the people of the country. A priority for the United States will be to work with the government in Nay Pyi Taw to achieve further improvements in the protection of worker rights, a longstanding area of concern to U.S. stakeholders and the international community.
The text of the TIFA can be found here.
Following the easing of sanctions in 2012, U.S. bilateral trade with Burma is increasing but still remains small. In the first four months of 2013, U.S. exports were $92.6 million, dominated by U.S. exports of aircraft parts and vehicle exports. During the same span, U.S. imports from the country were $3.6 million, including fish products and furniture with wooden frames. In contrast, Burma's global two-way goods trade is roughly $20 billion, with China and Thailand ranking as Burma’s top two trading partners. Other major trading partners include India, Singapore, Japan, South Korea, and Malaysia.
U.S.-Burma Trade Facts
Burma is currently our 154th largest goods trading partner with $176 million in total (two ways) goods trade during 2013. Goods exports totaled $146 million. There were goods imports of $30 million. The U.S. goods trade surplus with Burma was $116 million in 2013.
Burma was the United States' 141st largest goods export market in 2013.
U.S. goods exports to Burma in 2013 were $146 million, up 121.4% ($80 million) from 2012, and up 2,021% from 2003.
The top export categories (2-digit HS) for 2013 were: Machinery ($60 million), Aircraft ($29 million), Vehicles ($15 million), Optic and Medical Instruments ($13 million), and Cereals (wheat) ($7 million).
U.S. exports of agricultural products to Burma totaled $12 million in 2013.
Burma was the United States' 152nd largest goods import market in 2013.
U.S. goods imports to Burma in 2013 were $30 million, up 78,623% ($30 million) from 2012, but down 89.1% from 2003.
The top import categories (2-digit HS) for 2013 were: Fish and Seafood (shrimp, frozen fish) ($18 million), Precious Stones (ruby, sapphires) ($4 million), Artificial Flowers ($2 million), Vegetables ($2 million), and Knit Apparel ($1 million).
U.S. imports of agricultural products to Burma totaled $1 million in 2013.
The U.S goods trade surplus with Burma was $116 million in 2013, a 76.0% increase ($50 million) over 2012.
U.S. foreign direct investment (FDI) in Burma (stock) was $1 million in 2012 (latest data available), same as in 2011.
Burma’s FDI in the United States (stock) was not available for 2012.
*NOTE: No services trade data with Burma is available.