Burma: Europe wishes to encourage clothing exports
Through the Smart Myanmar fund, the European Union wishes to encourage Burmese manufacturers to raise their production standards, in exchange for facilitating exports to the EU.
Burma is planning to increase its textile shipments towards the EU by 300%, up to €2.8 billion by 2019, with the notable objective of creating 300,000 low-qualification jobs in the country. At the same time, another 150,000 workers should see their working conditions improve.
Through their backing, European corporations partnering the project are planning to reduce manufacturing waste in about one hundred local workshops by 20%. A development to considered alongside the recent increase in the minimum salary, which rose to MMK3,600 per hour (about €2.5).
In the first six months of 2015, Burma entered the top 20 of EU apparel suppliers, providing goods worth approximately €146 million. Over the period in question, Burma is expected to continue its rise through the ranks, recording an increase of about 64%.
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