A cloud of uncertainty loomed large over Myanmar’s garment industry in the wake of the EU threat to withdraw its GSP benefit even as the country made efforts to lure in foreign investments, writes Dipesh Satapathy.
Relocation of Chinese garment businesses to Myanmar as a result of the US-China trade war and efforts by Naypyidaw (the new capital city of the country) and industry bodies urging the European Union (EU) to reconsider the potential move to withdraw its generalised scheme of preferences (GSP) benefit topped Myanmar's garment sector developments in 2019.#
Relocation of Chinese garment businesses to Myanmar as a result of the US-China trade war and efforts by Naypyidaw (the new capital city of the country) and industry bodies urging the European Union (EU) to reconsider the potential move to withdraw its generalised scheme of preferences (GSP) benefit topped Myanmar’s garment sector developments in 2019. A UN statement urged apparel brands to cut ties with suppliers linked to Myanmar’s military.
Relocation of Chinese garment businesses to Myanmar as a result of the US-China trade war and efforts by Naypyidaw (the new capital city of the country) and industry bodies urging the European Union (EU) to reconsider the potential move to withdraw its generalised scheme of preferences (GSP) benefit topped Myanmar's garment sector developments in 2019.#
ALCHEMPro News Desk (RKS)
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