ASEAN trade pact strengthens Myanmar’s ties with Australia, New Zealand

THE free trade agreement (FTA) between ASEAN, Australia and New Zealand makes Myanmar products more competitive in the two biggest markets in Australasia, according to trade commissioners from Australia and New Zealand. There is a huge potential for trade to grow in the agriculture sector, as all three countries are rich in farms and fisheries. […]

Clothing industry looks for favoured status

The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. […]

Chinese garment firms eye Myanmar as low-cost hub

Thanks to soaring production costs in China coupled with surge in labour wages, Myanmar’s garment sector is emerging as the last low-cost production frontier for factory relocation and diversification in Southeast Asia. This, together with the difficulty in hiring garment workers and the Chinese government’s policy of upgrading its manufacturing sector with a strategic shift […]