The European Union (EU) will provide up to €2 million in funding to promote CSR (Corporate Social Responsibility) activities of Myanmar’s garment industry.
“The support will be provided in collaboration with UMFCCI (Union of Myanmar Federation of Chambers of Commerce and Industry) while we will make sure the funds are not used for purposes that overlap with those of other aid organisations and NGOs,” Antonio Berenguer, head of Trade and Economic Affairs at the EU Delegation, said at a workshop.
Although local garment factories can export only a low quantity of garments, following international standards in operational practices and delivering CSR programs will help them secure orders from rights-conscious countries such the EU members and the United States while the “Made In Myanmar” tag will also gain reputation, according to Daw Khaing Khaing Nwe, secretary general of Myanmar Garment Manufacturers Assocition.
Berenguer urged the donor countries and organisations to participate more actively to promote the trading and industrial practices in emerging economies.
Currently in the process of transitioning from a centralised economy to a market-oriented one, Myanmar is viewed by the international community as being on track to merge with the global economy, he added.
Source: Myanmar Business Today