Burma, also known as Myanmar, is a country in Southeast Asia bordered by the Bay of Bengal and the Andaman Sea. Neighboring countries include Bangladesh, China, India, Laos, and Thailand. Burma has a strategic location near major Indian Ocean shipping lanes. The government system is a military regime; the chief of state is the chairman of the State Peace and Development Council, and the head of government is the prime minister. Burma has a complex economic system combing both traditional and command economic systems. Many citizens engage in subsistence agriculture; however, the central government has a strong influence. Burma is a member of the Association of Southeast Asian Nations (ASEAN).
Myanmar is the largest country in mainland Southeast Asia, Myanmar has one of the lowest population densities in the region, with fertile lands, significant potential to increase its production, yields and profits in agriculture, and a rich endowment of natural resources. Its geographic location at the intersection of China and India, two of the world’s most dynamic economies, makes it well positioned to resumeA written summary of a person's education, employment record... its traditional role as a regional trading hub and a key supplier of minerals, natural gas and agricultural produce.
In 2011, when new President Thein Sein’s government came to power, Burma embarked on a major policy of reforms including anti-corruption, currency exchange rateAlso known as Foreign Exchange Rate. The rate, which can var..., foreign investmentMoney or capital that is invested in a business or in an acc... laws and taxation. Foreign investments increased from US$300 million in 2009-10 to a US$20 billion in 2010-11 by about 6567%. Large inflow of capitalThe net worth of a business, including assets, cash, propert... results in stronger Burmese currency, kyat by about 25%. In response, the government relaxed import restrictions and abolished export taxes. Despite current currency problems, Burmese economyThe management of money, currency and trade of a nation. The... is expected to grow by about 8.8% in 2011. After the completion of 58-billion dollar Dawei deep seaport, Burma is expected be at the hub of tradeThe buying and selling or exchange of goods and services. Th... connecting Southeast Asia and the South China Sea, via the Andaman Sea, to the Indian Ocean receiving goods from countries in the Middle East, Europe and Africa, and spurring growth in the ASEAN region.
On 28 January 2013 the government of Myanmar announced deals with international lenders to cancel or refinance nearly $6 billion of its debtMoney owed to another person or organisation, such as a loan..., almost 60 per cent of what it owes to foreign lenders. Japan wrote off US$3 Billion, nations in the group of Paris Club wrote off US$2.2 Billion and Norway wrote off US$534 Million.
Important Details
- Country ISO3 : MMR
- Country Code : 104
- Income Group : Lower middle income
- Lending Category : IDA
- Region : East Asia & Pacific
- Currency Unit: Myanmar kyat
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : WTO, ASEAN, BIMSTEC
- world rank : 158
- Regional Ranking : 36th in the Asia–Pacific Region