YANGON: Myanmar is set to boost export of garments worth 1.14 billion U.S. dollars to European Union (EU) market in the fiscal year 2016-17, official media reported Friday. The Myanmar Garment Manufacturers Association(MGMA) and French NGO Evalliance signed an agreement to boost the textile exports. According to the deal, the action plan includes the creation of job opportunities, the enhancement of productivity and the reduction of the country’s reliance on other countries for raw materials.
Evalliance’s president Jean Francois Limantour said that he expected EU would double its imports of garments from Myanmar in 2017. Myanmar’s reform will attract EU to promote cooperation and investment in the country. The two organizations had signed an agreement to set garments export valued at 450 million U.S. dollars in last year.
