Myanmar establishes garment markets in South American countries
20 Jun '05
1 min read
Myanmar has set up new garment export markets in south American countries, such as Mexico, Argentina and Brazil in the continent.
Garment exports from Myanmar down by 60 percent from $327 million in the financial year 2003-04 to $216 million in 2004-05 ended in March.
The US restriction over Myanmar has pulled down the number of 400 factories, employing 350,000 people in the year 2000 to nearly 160 garment factories employing 100,000.
These factories used to manufacture about 35 million dozen garment lots, worth $397 million.
Some garment factories employment and production decline 20 to 50 percents because of loosing key buyers in US.
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