Myanmar annually imports 3 million tons of iron and steel
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Hsu / Yoon (NP News) - Mar 13
As per reports, about 3 million tons of #iron_and_steel have to be imported annually in Myanmar.
It was addressed during the annual meeting of Myanmar Steel Association (MSA) held at Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on 11th March.
The Myanmar Steel Association (MSA) was established by local private businessmen in 2017 with the intention of bringing up the economic development by supporting in steel sector.
As per information from the meeting, about 3 million tons of iron, steel and their related items have to be imported annually in Myanmar.
The Chairman of the State Administration Council recently said and he expected to substitute iron and steel import with local production, from which job opportunities will also be created.
Moreover, there is also an urgent need for Myanmar Steel Association (MSA) to implement Myanmar Industrial Standard (MIS) to be able to conduct quality control and scrutiny process on the imported iron and steel.
“Iron and Steel play an instrumental role in building up the infrastructures for our country and the successful implementation of local steel manufacturing is needed to meet the demand gap.” the SAC Chairman recently said.