Myanmar textile exports ‘set to surge’

503061Myanmar is on course for a big jump in textile exports to Europe following the return of trade privileges by the European Union (EU), according to the Thailand Textile Institute.

The lifting of the ban on Myanmar under the EU’s Generalised System of Preferences (GSP) would rapidly drive up Myanmar’s exports of textiles, it said. The institute did not predict the size of the increase, but said it would be significant.

Myanmar’s textile exports rose 18% last year over 2011, totalling US$946 million (27 billion baht).

The EU reinstated trade benefits to Myanmar on April 22 in the wake of democratic reforms after years under the rule of a military junta. Garments are a key industrial sector of the country. Myanmar was struck off the GSP list in 2003 to a protest against the country’s dictatorship.

Many textile producers, including companies in Thailand, have relocated to Myanmar in expectation of benefiting from the GSP, low wages and abundant labour. In Myanmar the minimum monthly wage is US$32, compared with $90 in Cambodia and $100 in Vietnam. Myanmar has a 32.5 million-strong work force in a population of 55 million.

The Thailand Textile Institute warned of poor infrastructure in Myanmar, including inadequate electricity  supply and lack of facilities at Yangon port, which it said is hampering business.

The EU grants GSP privileges to less developed and developing countries as a means to help their exports to the EU.

 

 

Source : Bangkok Post | 20 May 2013

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Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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