The Western United States Trade Association (WUSATA) executive board visited Myanmar and Malaysia last month to determine future trade opportunities. The visit provide the board with an opportunity to learn more about Malaysia and Myanmar (Burma) markets, build business relationships, or continue to develop existing business relationships.
Southeast Asia is one of the fastest growing areas in the world with a regional GDP expected to reach approximately $1.9 trillion in 2020. According to USDA, “Malaysia purchased nearly $1 billion worth of agricultural products from the United States during the 2014 fiscal year. Overall, U.S. farm and food exports to the country have grown 78 percent in the past five years.” Exports to Myanmar also present a growth opportunity for U.S. exporters. With a population of over 50 million people and a growing economy, Myanmar’s emerging market is expected to see an increase in purchasing power that will drive demand for imports.
Photo Caption: The WUSATA Board with, US Ambassador Scot Marciel and his wife, WUSATA contractor Richard Lue and USDA agriculture attaché Rey Santell