As of 2014, Myanmar’s garment sector is booming. Both foreign owned and locally owned factories have once again begun exporting from Myanmar to both the European and US markets. In order to increase contracts and grow the industry, dozens of Myanmar garment factories are quickly upgrading and adjusting their facilities to improve working conditions in ways consistent with international norms.
Currently, not only has the EU completely revoked sanctions related to Myanmar’s garment industry, but they have also re-instated GSP preferences. As such, exports to the European market are growing very rapidly.
Regarding the US market, sanctions are mostly – but not entirely – suspended. It is possible for US retailers to once again source garments which are “Made in Myanmar”. GAP Inc. has been a pioneer in this respect, as the first major US retailer to renew sourcing operations in Myanmar. They are successful in this because they are careful to ensure full and proper due diligence on their suppliers.
MGMA can offer you an excellent point-of-entry into the Myanmar garment sector. After providing you with a broad perspective & data on the industry, our organization shall also be happy to make recommendations for professional services companies who are best able to facilitate your business operations in Myanmar.