Opening up to Democracy

Myanmar is an undeveloped country and the characteristics of its economy are Low GDP per capita, low Income, poverty, and low investment. After centuries of military rule and oppression the autocratic and isolated country has finally elected a democratic leader. Myanmar is opening up its door and is expecting to trade with the European countries. New projects for growth and development are already in progress.  “In February 2012, Commissioner Piebalgs visited Myanmar and announced a package of €150 million for the country’s democratic reform and inclusive development initiatives” The EU has initiated foreign investment to grow this poor country’s economy. As trade with foreign counties rise there will be increased amounts of exports and imports.

As Myanmar opens its doors to other global markets and starts exporting and importing with the EU this will benefit all trade partners. The opened doors will allow these countries to trade more and more resulting in a chain reaction that will eventually allow Burma and the European nations to broaden their trade with other countries as well by the means of increased trade agreements.

Ultimately, I believe Myanmar is taking the right step by abolishing military rule and opening its doors to the foreign market. This decision will benefit the country; days of prosperity and opportunity are to come.

COMM101 Topic: Business Development and Economics