United Parcel Service (UPS) Inc announced an expanded portfolio of services in Myanmar, introducing express delivery and contract logistics services on top of its air and ocean freight services launched in August last year.
With UPS’ new move, businesses in Myanmar will be able to use the American firm’s worldwide express services into and out of Myanmar, with transit times ranging between one to three business days across Asia, Europe and the United States.
Customers will also be able to leverage a full range of logistics solutions as Myanmar engages in increased levels of global trade, the world’s largest package delivery company said.
A series of political and economic reforms in the past four years have paved the way for increased foreign direct investment in Myanmar – which surpassed $8 billion in 2014-15 fiscal year. As more foreign businesses are licensed to operate in manufacturing, telecommunications and banking sectors, the demand for logistics solutions is also rising.
“It’s clear that the opportunities are tremendous … and with the ASEAN integration on the horizon, we’re excited about seeing bigger trade within the region as goods, services, investment, capital and people move around more easily,” said Jim O’Gara, president of South Asia District, UPS Asia Pacific Region.
“Free and open trade in Southeast Asia will be a key driver of business and economic prosperity. We see the upcoming establishment of the ASEAN Economic Community as being central to helping foster opportunities for Myanmar’s growth,” he added.
UPS said its logistics solutions can also support small local businesses as they begin to engage in global trade.
“Some businesses are reluctant to ship internationally because of confusing and overly complicated requirements … and exporting obstacles are especially burdensome for small- and mid-sized companies.
“In our experience working with customers of all sizes and across all segments, one thing we’ve learnt is that companies need to be agile, responsive and provide exemplary customer service to be successful as they engage in global trade,” O’Gara said.