Rice prices jump in India; Bangladesh eyes import deal with Myanmar

BENGALURU (Reuters) – Rice prices in top exporter India rebounded this week, boosted by steady demand from Bangladesh which has been actively exploring fresh import deals with its neighbors and is looking to wrap up a major purchase from Myanmar. A Bangladeshi government delegation is in Myanmar to finalize a state-to-state deal, government officials said […]

More FDI essential for substantial increase in garment exports

The study called for an expansion of training in the garments sector to tackle shortages of high-level skill as well as complementary reforms in finance and trade policy. The briefing paper Foreign direct investment and economic transformation in Myanmar, written by Stephen Gelb, was published in June 2017 by Supporting Economic Transformation (SET). Funded by […]

Effort to get tax exemption to export garment

Local garment factories are attempting to export their own branded garments, according to the Myanmar Garment Entrepreneurs Association. Currently, local garment factories export their products with the Cut-Make-Pack (CMP) system. “We are unable to export our products with the Free-On-Board (FOB) system. Currently, we are trying to get tax exemption for the FOB system. “We […]

Myanmar CMP Expected to Earn US $ 2 Billion for Garment Industry 

​​ Myanmar is expected to earn about US$ 1.855 billion from CMP (cutting, making and packaging) garment industry which includes the manufacturing of shoes, garment and bags, according to Ministry of Commerce. Export earnings from the garment industry through CMP has more than doubled since last year, according to the Ministry. “Myanmar has earned $1.4 […]

Timber export volumes may fall when new regulation introduced

Export volumes may fall when new regulation introduced The MyanmarTimes has reported that a spokesperson from the Ministry of Natural Resources and Environmental Conservation, U Win Zaw, has said the volume of timber that can be exported is likely to decline beginning May this year. The news item says “Only timber cut from logs sold […]

Myanmar garment manufacturers request tax exemption in FOB system

Myanmar garment entrepreneurs have requested the Ministry of Commerce and the Ministry of Planning and Finance to grant a tax exemption in the Free-on-Board (FOB) system to maintain Myanmar’s garment industry for the long term, it is learnt from the Myanmar Garment Entrepreneurs Association. Myanmar garment factories are currently operating under Cut,Make and Pack (CMP) […]

Korea-Myanmar venture to build 500-acre garment zone

A Korean firm and a local company have teamed up with a view to building free-on-board (FOB) garment factories on 500 acres of land through a 50-50 joint venture. Myanmar-based Olympus Asia Group and Korea’s Panko Corporation signed a memorandum of understanding on August 20 and are looking for land in Yangon, Bago or Ayeywarwady […]

KATRI to assist development of Myanmar textile export sector

No 3 Heavy Industry under the Ministry of Industry will work with Korea Apparel Testing Research Institute (KATRI) to improve Myanmar’s textile sector to enter the international market, according to Dr. Eun Ho Shin, the in-charge of KATRI. The cooperation aims at promoting the textile industry a under three-year-project to effectuate the development of the […]

North Andaman Apparel to exhibit in Paris & Berlin

Myanmar based garment factory North Andaman Apparel will exhibit at both Apparel Sourcing Exhibition, which is part of Texworld, in Paris and Asian Sourcing in Berlin from 15-18 February and 24-26 February, respectively. “We are experienced in manufacturing and exporting products like shirts, blouses, premium quality baby dresses, children’s wear, nightwear, swimwear, handwoven fabric, leather […]

Myanmar garment firms explore Paris & Berlin markets

Representatives of nine top Myanmar based apparel factories went to Paris and Berlin last month in order to get a better understanding of European markets and European buyers’ requirements. “The participants were able to gain insights into the multilayered European textile market by visiting two major garment and textile trade shows located in Paris and […]