Ford to Sell Cars in Myanmar

Ford Motor Co. has signed an agreement with distributor Capital Automotive Ltd. to sell its vehicles in Myanmar, Yangon-based newspaper Eleven reports.

Capital Automotive is a unit of Capital Diamond Star Group, which is owned by the politically well-connected Myanmar tycoon Ko Ko Gyi. The distributor tells Eleven that it aims to open its first showroom in April or May in Yangon.

Ford confirms it is preparing to enter the Myanmar market, according to the Associated Press. The company declines to provide details.

Myanmar eased its strict limits on auto imports in late 2011. Last July the U.S. loosened its restrictions on doing business there after Myanmar's government made economic and political reforms.