Myanmar may lower tariffs on imports of fabrics from Taiwan. Importers of Taiwanese fabrics in Myanmar are currently required to pay 5 to 15 per cent import duties. Lowering of tariffs by Myanmar is seen primarily as a goodwill gesture. Fabrics are one of Taiwan’s few key export items to Myanmar, accounting for 14 per cent of Taiwan’s outbound sales to Myanmar.

Taiwan is thinking of exporting agricultural equipment and modified vegetable seeds and rice seeds to Myanmar in future. The two countries have agreed to work together on commodity inspection technology to lower trading costs. Taiwan will help Myanmar set up a system to speed up the goods clearance process at customs.

Taiwan is planning on bringing in migrant workers from Myanmar to resolve labor shortages in that Taiwan’s manufacturing and agricultural sectors. People in Myanmar share similar religious beliefs and lifestyles with people in Taiwan, making them a good fit in the local economy.

Myanmar has recently opened up its market for imports of goods including textiles from all over the world. The main countries Myanmar imports man-made fiber textiles from are China, Republic of Korea, Japan, Taipei, Indonesia, Thailand.