Garment Manufacturing in Myanmar, Maternity Leave in India – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
After reopening its economy in 2012 following several political reforms beginning the year before, Myanmar has received a significant increase in foreign direct investment.
Now, Myanmar is bringing a new labor force to compete in the garment manufacturing industry.
Last year, India amended its maternity law – surpassing many European and Asian countries with regards to maternity benefits being provided to working mothers.
The amendment increases the duration of maternity leave from 12 weeks to 26 weeks for the first two children. In cases where a woman has more than two children, the leave is limited to 12 weeks only.
Russian Prime Minister Dmitry Medvedev has set a new target for bilateral trade between Russia and China, saying that a figure of US$200 billion is quite achievable.
Medvedev reported that he agreed with his Chinese counterpart on a number of additional steps for the support of small businesses, the development of electronic trade, and the development of payment systems.
China, Russia, India, Turkey, and Iran – all major economic powers in their own right – are increasingly looking at establishing alternative trading mechanisms and avoid using dollars.
Examples include Russia, which is negotiating to trade with Turkey in rubles and lira.
Since pulling out of the Trans-Pacific Partnership (TPP), a massive 12-country trade agreement, US President Donald Trump has engaged in bilateral trade talks with allies and competitors alike.
So far, the US has begun or completed trade negotiations with Canada, Mexico, South Korea, Japan, and the EU, among others, and entered into a large-scale trade war with China.