The Japanese automobile industry holds a significant portion of the world automobile market as vehicles offered by them are durable, comfortable, safe, high on technology and quality and above all are fuel-efficient. Japan has acquired the top spot as the most consistent and reasonable vehicle manufacturing market. While offering used vehicles, Japanese market gives the best combination in price, economy, quality standard and flexibility. Even today, very old Japanese used models are running on the roads of many countries.
Japan is one of the largest producers of automobiles in the world. Some of the most popular Japanese car brands are Toyota, Mitsubishi, Subaru, Honda, Mazda, Nissan, and Suzuki. Millions of vehicles, both new and used from Japan are exported to South Africa, United Kingdom, Russia, New Zealand, Middle East and many Asian and Pacific countries. These vehicles are known for their durability and fuel-efficiency. Myanmar is a major importer of Japanese vehicles.
Myanmar is taking steps towards growth and development. Tourism is a promising industry to earn foreign exchange due to its natural beauty and interesting political history. Myanmar is rich in natural resources and has a strong agricultural base. It also has vast timber, natural gas, and fishery reserves and is a leading source of gems (rubies) and jade. The Government of Myanmar is ready to bring many new investment and development projects. For Japan, Myanmar is a favorable nation to invest as it assures good returns.
Myanmar is also a chief importer of Japanese used vehicles. As of now, used vehicles from Japan are the biggest export to Myanmar followed by construction materials, textiles, and electronics. Around 80% of used vehicles from Japan are exported to Myanmar.
The Myanmar government has taken the step for reform and development work in the country. The importation of used vehicles in Myanmar is an easy process due to lesser restrictions. Few years back, the importation of used vehicle in Myanmar is quite expensive due to heavy taxes, but now the Government of Myanmar has slashed the import taxes in the present financial year 2014-15 in order to reduce the prices of vehicles.
Even the Myanmar regional transport authorities are planning to remove vehicles manufactured by local companies in industrial zones in the country, therefore permitting the import of vehicles costing less than 15,000 U.S. dollars with a 20-percent tax exemption. The Government of Myanmar has allowed dealers to sell model manufactured from 2008 to 2011, thus allowing dealers to sell more varieties of vehicles. All these factors will definitely lead to a great boom in the import of used vehicles from Japan to Myanmar. It will not only improve trade between the countries, but bring in better used passenger cars, buses at good prices to enhance the automobile industry at the highest.
Not only used cars, used buses, used motorbikes, used parts and machinery are imported to Myanmar from Japan. Thousands of used vehicles from Japan are exported to Myanmar and numbers are increasing at a high speed. This situation is beneficial for both the nations. Myanmar is on the road to development, so Japan has a favorable nation to put their investments and projects for good returns. Myanmar is a very promising nation with rich reserves of natural resources and will definitely emerge as a top trade hub for used vehicle exporters. Myanmar has become one of the largest importers of used cars and it won’t be a surprise, if it becomes the largest importer of Japanese used vehicles.