In the wake of a Singapore government investigation, exports dropped from more than US$110 million to just over US$10 million.
Police and soldiers armed with guns and slingshots advance towards anti-coup protesters in Mandalay, Myanmar on Mar 3, 2021. The flow of weapons and military supplies from Singapore-based entities to Myanmar has “dropped dramatically” following a government probe, said United Nations rights envoy Tom Andrews in a new report released on Wednesday .
“ a significant step in the right direction for Singapore. On the other hand, we have the opposite direction with respect to Thailand,” he added.in a coup and ousted a democratically elected government three years ago. Since then, the country has been in turmoil with thousands killed and millions displaced.
According to the report, the junta’s purchases previously made from Singapore-based entities, including parts for Mi-17 and Mi-35 helicopters, are now being sourced from Thailand. The report said the junta uses these helicopters to transport soldiers and conduct airstrikes on civilian targets.The country’s oldest commercial bank facilitated over US$5 million in transactions related to Myanmar military procurement in the 2022 fiscal year. This skyrocketed to more than US$100 million in 2023.
“We're hoping that Thailand will follow suit, and we'll see a similar trend next year from Thailand that we've seen this year from Singapore.” Singapore’s Foreign Affairs Minister Vivian Balakrishnan clarified that the government has not imposed a general trade embargo on Myanmar. He said authorities were seeking more details to conduct thorough checks and investigations.
However, it said not all countries are doing enough and the junta is still adept at evading scrutiny by the international banking system. Faced with these issues, the junta counted on two primary resources from abroad – weapons and money – to sustain itself, added Mr Andrews.On a positive note, the volume of military supplies purchased by Myanmar through the international finance system dropped by a third over the past year, from US$377 million to US$253 million.
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