Myanmar CMP products reach over 80 markets including US, Japan, Korea

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Photo: Xinhua

Myanmar garments are mainly exported to 12 countries including the US, Japan and the Republic of Korea, according to deputy minister for commerce U Min Min.

CMP accounts for the majority of Myanmar‘s textile exports, with over 100 countries of destinations and FE earnings of US$ 5.3 billion in 2022-2023 financial year.

We are also exporting to over 80 countries in this fiscal year. Major markets for our textile products include Japan, Poland, Spain, Germany, Korea, UK, the Netherlands, Italy, the US, France, Denmark and Belgium,” U Min Min said.

The outsourcing countries import the majority of raw materialsfor CMP factories through the Chinese market. 90% of raw textile imports worth over US$ 1 billion this year came fromChina, deputy minister added.

Myanmar and China are two neighbouring countries with long-standing trade relations. Thanks to bilateral coordinated efforts in both sea and border routes, our trade volume with China isincreasing year by year,” he said.

The Ministry of Commerce has launched Myanmar Tradenet 2.0 online system to facilitate the raw material import and product export processes of CMP industry.

MT/ZN

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