Myanmar is eyeing more foreign investment and Turkey tops the country’s list with regard to the same.
To further boost investments in education and airlines, Myanmar is now considering to enhance garment exports to Turkey.
This was confirmed by the Ministry of Commerce.
At a recent meeting held between Aung Htoo, Commerce Deputy Minister and Turkish Ambassador to Myanmar Kerem Divanlioglu, both sides stressed on holding training courses for garment workers.
Additionally, there will be efforts to create more job opportunities in trading and investment sector. Both the countries also plan to organise trade fairs.
The Commerce Ministry said that garment and textile exports in the country have jumped by 4 times in last 5 years, which cannot be overlooked.
Here it is important to note that the value of cutting, making and packing garment exports was US $ 325 million during 1 to 25 October (FY 2019-20).
The Myanmar Garment Manufacturer Association (MGMA) maintained that if the system shifts from CMP to FOB, the country can increase its annual income from US 300 million to US $ 3 billion.