Aug 9 (Reuters) – PepsiCo Inc said on Thursday it
has signed a distribution agreement to sell some of its drinks
in Myanmar with Diamond Star Co Ltd, which has been doing
business in the Southeast Asian country for nearly 50 years.
Under the terms of the agreement, Diamond Star — one of the
largest packaged-goods distributors in Myanmar — has exclusive
rights to import, sell and distribute Pepsi-Cola, 7-Up and
Mirinda.
The company is buying and importing the drinks from
PepsiCo’s Vietnam operations.
PepsiCo also said it plans to evaluate other opportunities
in Myanmar, including the potential for local manufacturing and
investing in agricultural development.
Myanmar, once known as Burma, began emerging last year from
decades of isolation when its long-time military dictator
stepped aside and a quasi-civilian government took over.
The new government has started overhauling the economy,
easing media censorship, legalizing trade unions and protests
and freeing political prisoners.
The United States has responded by easing some sanctions,
starting with a decision last month to allow U.S. companies to
invest in Myanmar and provide financial services there.
PepsiCo, which last did business there in 1997, said its
drinks are now available to consumers in parts of Myanmar and
that availability will increase in the coming weeks.
Rival Coca-Cola Co said in June that it planned to
operate in Myanmar as soon as the U.S. government allowed it.
