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Myanmar textile show this month

A textile and garment expo will be held in Myanmar from December 6 to 9, 2018. The four-day expo will showcase over 130 brands from China, Germany, Hong Kong, Japan, India, Malaysia, Myanmar, Singapore, among others. On displayed will be clothing, textile, modern machinery such as embroidery machines, sewing machines, printing machines and flat knitting machines.

The expo aims to build an efficient communication platform for the domestic market. Myanmar has more than 400 garment factories employing about 4,00,000 workers and earning more than two billion dollars annually from foreign markets. Myanmar’s economy grew by 6.8 per cent in 2017-18, up 5.9 per cent from the previous year.

This was due to expanding public spending and growing exports, and a recovery in agricultural production supported by favorable weather conditions. The economy is projected to recover further at 7.1 per cent and 7.4 per cent in 2018 half-year interim and 2018-19, respectively, supported by sustained foreign direct investment inflows, improving investor sentiment, and continuing strong growth in garment exports and domestic consumption.

With the advantages accruing from preferential trade agreements and low labor costs, Myanmar can utilize the time window to address key constraints in improving both the environment for domestic manufacturing as well as efficiency of trade logistics.

 

 
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