Stew Post
Senior Communications Officer Stew Post interviewed Karina Ufert, Executive Director of the European Chamber of Commerce in Myanmar. Read the original interview on EuroCham website here.
After more than four years in the position – during which she navigated the chamber through the COVID-19 pandemic and ongoing political instability in the country – she is moving to Copenhagen to focus on improving regulatory alignment and operational standards within the social auditing industry.
The pair explored her time with the chamber, impacts of the recent earthquake, and the unique challenges and opportunities that Myanmar presents for international businesses.
Stew: Thanks for taking the time to speak with EuroCham Cambodia. Perhaps you could start by telling us a bit about yourself, your business background and how you came to be the CEO of EuroCham Myanmar? As you are moving on from the chamber, have there been any standout experiences during your tenure?
Karina: Thank you for the opportunity.
I have spent the past 15 years working at the intersection of business, strategy, and public affairs, with a particular focus on transition economies. My career began in Europe, where I worked in Brussels on public policy engagement, collaborating with EU institutions, UN agencies, and major stakeholder platforms. From early on, I was drawn to roles where impact and operational clarity intersected, building a strong foundation in navigating both strategy development and real-world execution.
In Asia, I transitioned fully into private sector, specialising in market creation and business transformation in complex environments. Myanmar represented a natural extension of my interests, given its parallels with other transitional contexts I had worked with. I engaged deeply in private sector initiatives supporting SME growth, regenerative agriculture, and organic cotton sourcing – always with a strong focus on embedding strategy into viable, sustainable business models.
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Taking on the leadership of EuroCham Myanmar was a continuation of this trajectory. During my tenure as CEO, I helped steer the Chamber through extraordinary circumstances, including the complex operating environment that emerged following the political events of 2021. We more than doubled our membership and transformed EuroCham into a critical platform, not only for advocacy but for practical, risk-based business engagement.
One of the aspects I am most proud of is helping companies navigate the realities of operating responsibly in fragile states: demystifying due diligence, reinforcing risk governance, and supporting members in balancing commercial needs with ethical imperatives.
EuroCham Myanmar became a model for how chambers can remain relevant and value-adding even under the most difficult circumstances, and I am proud to have contributed to that legacy.
Stew: The recent earthquake is front and centre in discussions of Myanmar. What has been the state of chamber operations since the disaster? What have relief efforts looked like and is there a way for people to help if they would like to contribute?
Karina: The recent earthquake has been devastating for Myanmar, both in terms of human loss and infrastructure damage. We are thankful that our team and their families are safe. In these moments, what is humbling and deeply inspiring is how the private sector immediately stepped forward.
At EuroCham Myanmar, this is not the first time we have mobilised support during a crisis. During the Covid-19 pandemic, and again following previous cyclones Yagi and Mocha, we activated both fundraising and in-kind support campaigns.
Over time, the Chamber has become a trusted bridge between European businesses and the Myanmar community, especially in moments when international aid is constrained.
Following the earthquake, we rapidly engaged our network for securing donations and practical support from our members. Our latest fundraising drive raised close to 1 billion MMK, channeled through vetted local civil society organisations, ensuring that aid reaches the most affected communities directly and efficiently.
Cumulatively, the direct contributions of the European private sector to Myanmar’s broader humanitarian needs through EuroCham-channeled initiatives now exceed one million dollars. It reflects the resilience and commitment of our members and and of the role that responsible business can and should play in times of crisis.
For those wishing to contribute further, we are happy to recommend trusted NGO partners, based on the strong local networks we have cultivated over the years.
Stew: Prior to the tragedy of this natural disaster, what was the general business environment like for international companies operating in Myanmar over the past few years? What were the key challenges and opportunities? Are there specific sectors that have fared better than others?
Karina: The business environment in Myanmar has been volatile for several years, driven by political, economic, and operational uncertainty. At EuroCham Myanmar, we track these dynamics closely through our quarterly Business Confidence Surveys, regular stakeholder engagement, and member consultations.
Despite the challenges, we have continued to grow, today representing a community of 164 European companies operating across a wide range of sectors. The companies who have remained demonstrate a clear, long-term commitment, driven not only by commercial considerations but by a strong sense of responsibility toward their employees and the communities they serve.
At EuroCham, our ethos has been clear: We step into the shoes of our members, thinking as operators and building our services to match real needs on the ground. Through daily market briefings, thematic updates, private advisory sessions, stakeholder dialogues, and sectoral reports, we provide the insights, escalation channels, and network access companies need to navigate the complexity responsibly.
Opportunities have remained, particularly in sectors tied to essential goods and services, including agriculture, food and beverage, logistics, and garment manufacturing. Key challenges include operational compliance risks, workforce security, banking system fragility, and managing reputational exposure internationally.
Our consistent guidance to members has been to operate in line with international standards of responsible business conduct, including enhanced human rights and environmental due diligence frameworks. The companies who succeed in Myanmar today are those who combine strategic patience, risk awareness, and a deep investment in their people and local partnerships.
Stew: Along with countries around the world – including Cambodia – Myanmar was hit with significant tariffs by the United States. How has the business community reacted to the announcement of these tariffs and what do you think will be the short and long-term impacts of these policies on business in Myanmar?
Karina: The direct impact of US tariffs on Myanmar has been relatively marginal, given that American companies account for a small share (approximately 5%) of Myanmar’s overall trade. The Myanmar–US trade relationship had already been heavily affected by earlier rounds of sanctions, so the latest measures reinforced an existing trend rather than dramatically altering the landscape.
From a broader perspective, there are legitimate questions about the effectiveness of trade restrictions as a tool for meaningful change. In fragile and transitional economies like Myanmar, we have often seen that responsible engagement, rather than disengagement offers a stronger platform for influencing standards, supporting communities, and preserving space for positive development outcomes.
At EuroCham Myanmar, we are grateful that the European Union has maintained trade engagement, while emphasising heightened human rights and environmental due diligence requirements. This approach has allowed European companies to stay actively involved in shaping better labour conditions, engaging transparently with worker representatives, and publicly supporting measures such as the recent call for minimum wage increases.
Stew: In light of these challenges, what advice or guidance would you give to a European business operating in the market? Are there any sectors you see holding promise? Major obstacles or pitfalls to be avoided or potential opportunities to be had?
Karina: Myanmar is not a business-as-usual environment and success here demands a high level of strategic, operational, and ethical discipline. For companies considering or continuing operations, my first advice is: contextual awareness is non-negotiable. Parachuting global strategies or copy-pasting compliance programs without local adaptation does not work. Every decision must be grounded in real facts, real stakeholder consultation, and a risk-based understanding of the operating environment.
The companies that succeed are those that embrace Myanmar as a long-term investment, not just commercially, but in terms of building trust, relationships, and resilience. There are no shortcuts, and there are no fully “safe zones”. But with careful planning, responsible local partnerships, and a genuine commitment to ethical conduct, it is possible to navigate the complexities successfully.
EuroCham Myanmar has always been built on the principle of walking alongside our companies by offering timely insights, escalation support, and stakeholder engagement pathways to help them balance business realities with principled action.
There is still opportunity in essential sectors: agriculture, healthcare, responsible manufacturing, basic services. But operating in Myanmar today is also a real-time exercise in strengthening ethics, compliance, and human rights due diligence practices at a much deeper, operational level than most environments demand.
Finally, on a more personal note: Working in Myanmar has been one of the most professionally rewarding experiences of my career. The resilience, eagerness to learn, and professionalism of Myanmar people is extraordinary. It is a reminder that when businesses stay engaged with integrity and humility, they can have a lasting positive impact – even in the most complex contexts.
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