Panalpina opens an office in Yangon

Swiss forwarding giant Panalpina has now opened an office in Yangon to provide services in Myanmar "at the crossroads between India, China and south east Asia", the company announced. "For Panalpina, the biggest opportunities for growth are in telecommunications, manufacturing, oil and gas, as well as capital projects," said the company statement. "Apart from transport infrastructure, power plants, refineries and gas terminals need to be built. Myanmar has vast offshore natural gas reserves and is rich with oil deposits and other natural resources such as gemstones and minerals," it said."Panalpina has worked with customers in Myanmar for many years through dedicated agents," said Panalpina country manager Thorsten Harenberg. "We have been grateful for their support, but having our own team on the ground here in Yangon will allow us to work more closely with and better meet the needs of our customers," he said.Myanmar had been isolated from international trade for decades until 2011, when a new civilian government was elected. As economic sanctions against Myanmar have been eased, international trade has grown. Most imported goods come from other Asian countries and Europe. Trade with China is growing, with new direct shipping services having been launched between Shanghai and Yangon.In the south, Myanmar plans to develop Dawei into a deep-sea port and special economic zone. Combined with new overland links into Thailand, Laos, Cambodia and Vietnam, this could establish multimodal trade south east Asia and India. The lack of infrastructure remains a challenge though for this country with a population of 51 million; the demand for upgrading is huge, according to Shipping Gazette.