The Myanmar Ministry of Planning, Finance and Industry will complete drafting of a new national textile policy for the development of textile industry in the country soon.
Drafting started in January 2018, and the first stakeholder meeting was called in January 2019 involving relevant ministries, officials from private organisations and textile industry business people.
The ministry stated that the adoption of a national textile policy will reap benefits such as action plans, drawing of necessary road maps, laws, rules and procedures, infrastructural development, creation of a business environment that encourages local and foreign investment, manufacturing of value-added products, socio-economic development, technological acquirement, market competition, easy external trade and strengthened economic cooperation.
The national textile policy is being drafted with the help of Germany’s GIZ.
Myanmar is also implementing the newly passed National Export Strategy-NES. Under NES, there will measures such as transition of CMP garment system into FOB system, adoption of bonded warehouse system and establishment of specialised textile and garment zones to boost exports.
