Myanmar earned more than US$4.316 billion from the export of garments manufactured under the cut-make-pack (CMP) system during the period between April and September of the current 2023-2024 financial year, according to Daw Cho Thet Mu, deputy director of the Trade Policy Branch under the Ministry of Commerce.
Among the countries investing in the CMP garment sector, China ranks first. Notable investments also come from Chinese Taipei, Thailand, South Korea, and Japan, with finished products under the CMP being exported to the Republic of Korea (ROK), Japan, and European Union (EU) countries.
“Currently, Japan and Korea are the key countries that purchase Myanmar garments under the CMP, with 37.5 percent of orders from Japan and 25.3 per cent from Korea,” Daw Cho Thet Mu said.
Most of the garment factories operating under the CMP system are located in the Yangon Region, comprising 505 garment factories, 48 footwear factories, eight wig manufacturers, and an additional 177 factories engaged in the manufacturing of bags, sports suits, sports shoes, and socks.— ASH/TH
