The European Union has funded €8 million (K13.67 billion/US$8.93 million) for a project named ARISE Plus Myanmar to boost micro, small and medium enterprises in Myanmar.

The project was launched on 18th October which will help the MSMEs to explore business opportunities in Southeast Asia, the EU and other global markets.

The Ministry of Commerce and the International Trade Centre (ITC) will be main implementing arm for the project.

U Than Myint, Commerce Minister said “We will try hard to achieve quality products with the assistance of the project. We will produce high-quality and value-added products.”

“This project will help to bring fair and all-inclusive development and employment opportunities to the prioritized export sector in line with the strategy set out by the Myanmar government, as well as ensure the manufacturing of high quality products,” said Arancha Gonzalez, executive director of the ITC.

The project will focus on promoting high value crops, such as oils, pulses, honey, avocados, pomelos, pineapples, and garlic. Secondly, the project will focus on sanitary standards that protect humans, plants and animals from germs and pollution. Thirdly, will focus on coming up with trade policies that remove non-tariff barriers so that small businesses can export their products.

The project will also work on helping to bring more women into the labor market, and create higher-paid jobs, Gonzalez said.

Source: The Myanmar Times