October 29, 2016

Breaking News

Japan and EU countries increase orders of CMP garment products, fetching over US$940million

A garment factory in an industrial zone.
A garment factory in an industrial zone.

With an increase in the orders of garment products under the Cut, Make and Pack (CMP) system by Japan and European
Union countries, Myanmar’s CMP garment export as of 21st October in this fiscal year 2016-2017 fetched over US$940million, which is US$530million higher than that of the similar period in the previous fiscal year.
In a similar period, the earning from garment export was only US$408.615million. Thirty-three per cent of Myanmar’s garment exports goes to Japan and 22 per cent goes to the EU market, especially to Germany. The remaining exports go to Korea, America and China.
Currently, 65 per cent of companies which are engaged in Myanmar’s garment sector are from China, it is learnt. The Myanmar garment sector consists of over 400 garment factories, with an estimated 400,000 labour force.
After Myanmar is restored to the Generalized System of Preference (GSP) from the EU, the country will receive a growing number of orders.

 

Ko Htet

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