People often talk about the need for growing Asian economies to import vehicles. In fact, many of these economies could eventually make for a strong secondary market for US automakers. Myanmar has long been a land of uncertainty. Individuals that comment on the nation usually talk about human rights as opposed to cars. However, that might change shortly.
Myanmar was a shut off nation for many years. However, a recent survey conducted by the IMF suggests that Myanmar is set to experience huge economic growth. One of the top priorities there is to establish new macroeconomic stability. Exchange rate reform would be an excellent place to start. Reforms could also encourage importing more vehicles into the country.
Reliable transportation will certainly be important. The Southeast Asian Games are due to be held in the country in 2013. Starting in 2010, Myanmar underwent a number of reforms. There is still quite a bit of progress to go, but things have certainly changed. The government of Myanmar started to encourage replacement of old rust buckets in 2011.
A program has been in place since September 2011 to eliminate 40-year-old privately owned vehicles. Around 55,000 vehicles were canceled off the registry. The government is now allowing citizens holding foreign exchange accounts to freely import cars. The vehicles in question must be 2007 or newer models.
Everything except buses can be freely imported. The brand new regulations don’t put any restriction on steering. Both left-hand and right-handed steering vehicles may be imported. After gaining the endorsement of region or state regulators, individuals may also import 2007 or newer cabs. Taxi services are in need of new cars as badly as anyone else in the country.
Restrictions on buses are a bit more complicated. If an owner surrendered their old bus, they can receive an import permit in exchange. The owner of an old bus can then buy a vehicle made between 1996 and 2006. Anyone that wants to buy completely new buses may be given permission to import 2007 or newer buses. However, these must feature left-hand steering wheels.
Considering that commentators often talk about various slumps in domestic car sales, American automakers could look towards developing nations for new markets. Foreign marketplaces might help to reverse the trade balance. Many of these countries are held back by ancient gas-guzzlers. Buyers might look at newer vehicles as a responsible choice. While fuel efficiency and cleanliness is important to American buyers, it is even more so to those in impoverished states.