Beta Version: Services Trade and Investment Portal-STIP

A ceremony to launch Beta Version of Services Trade and Investment Portal-STIP was held in Nay Pyi Taw, Wednesday with an attendance of Union Minister for Commerce Dr Pwint San.

At the event, the Union Minister said that Myanmar receives 58 percent of GDP growth from services trade and ranks four in ASEAN countries after Singapore, Thailand and the Philippines.

The Union minister said the services trade is a promising sector and it should emphasize the investment in services to develop this sector. Myanmar is also cooperating with departments concerned to conduct services trade measures. The STIP Web Portal is a website that offers the laws, rules and regulations of services trade just in one place and the laws, rules and regulations are also enacted as per the commitments of FTAs.

It also brings benefits in implementing the ACE 2025 and supports the services trade of the country.

Later, 44 representatives of 35 departments related to services trade and investments and technological in-charges from Developer Company reported on establishment of treasury on services trade and investment facts and applying. Further awareness campaigns for the Beta Version of STIP will be conducted for private entrepreneurs across the nation. The services trade plays a crucial role in Myanmar and the country fully imports the proper services to encourage that sector.