The AP Moller-Maersk Group has received a permanent licence from Myanmar to operate a container business through its units Maersk Line, MCC Transport and Safmarine as well as setting up a Yangon agency to officially open in May, the company announced.
"Since the European Union and United States eased sanctions in 2012, we have experienced a surge in interest in sourcing goods to and from Myanmar," said country manager My Therese Blank.
Macro-economic also indicators signal a continuous expansion of growth in the country due to infrastructure development and investments in agriculture and garments, the company said.
With a population of 60 million, trade is also expected to grow as demand for consumer products increases.
"Containerised trade has been growing 17 per cent annually from 2007 to 2013, and we expect the trend to continue. By 2020, volumes indicate a potential growth to 600,000 FEU, four times current levels," said Ms Blank.
The Maersk Group's three container businesses have operated under a third party agency for the past 20 years. By increasing its presence, the company sees more opportunities to develop the country's transport industry and supply chain, increasing the country's competitiveness, according to Shipping Gazette.
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