Thursday , June 29 2017

Myanmar texture and garment export aims 2 Billions revenue

Myanmar texture and garment has set a target of export earnings $ 2 billion for the fiscal year 2015-2016. The foreign component of investment in the sector is 90 percent, the industry has created more than 100,000 jobs opportunities, year from 2014 to 2015, according to the Association of Clothing Manufacturers Myanmar.
The texture and garment industry is one of the seven target for expansion with a new Myanmar export strategy areas of the country.

Read also : New Myanmar export strategy launched

The five-year strategy, which aims to address the trade deficit, also focuses on rice, peas and legumes, fish products, wood and wood products, rubber and tourism.
It is expected that the implementation of the NES to cost $ 900 million in the past five years, an official said.
The Ministry of Commerce will give priority export sectors in an effort to revive the country’s economy, said U Win Myint, Minister of Commerce, in Parliament recently. Revenues from exports of textiles and clothing accounted for 40 percent of foreign income in the country around 1990.

Read also : Myanmar fishery and aquaculture export


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