BRIEF - Garment sector to earn US$1.5 billion for exports this year

Income from garment exports could increase to US$1.5 billion once the US and EU have entered the Burmese market, according to Khine Khine Nwe, secretary of Myanmar Garment Entrepreneurs Association. The statement was made during a contract signing between Burmese and Australian merchants in Rangoon on Monday. The garment sector brought in an estimated US$1 billion in the 2013-14 fiscal year, up from US$800 million the previous year. Easing of economic sanctions in 2013 has bolstered investment and exports in the garment sector.