Denmark-based Maersk Line and Singapore-headquartered MCC Transport plan to open a branch office in Myanmar in the second half of 2013 to capitalize on its growing economy following the lifting of EU and U.S. trade sanctions in 2012.
After 20 years of being represented by an agency, Maersk Line and MCC Transport, an intra-Asia carrier with an extensive feeder network, will station a permanent owners’ representative in Myanmar, a market with a container traffic that reached 400,000 TEUs (20-foot-equivalent units) in 2012, Maersk Line said in an official statement.
“Myanmar is the last untapped market in Southeast Asia. It has significant natural resources, a large population, and is strategically located between two of the world’s largest economies, India and China,” the statement added.
Five decades of military rule in the country ended in 2011, and Myanmar has since introduced reforms to stimulate foreign direct investments and international trade.
“With a population of 60 million, Myanmar has the potential of becoming one of the largest consumer markets in Southeast Asia, while the low cost of labor is attracting low-end manufacturing and production companies,” Maersk Line said.
The Danish carrier has four sailings per week departing from Yangon and slots on the feeder service.
Maersk Line’s office will be headed My Therese Blank, who joined Maersk Line in 2006 in Sweden and was stationed in Myanmar as owners’ representative in late 2012. She is expected to occupy her post in March 2013.