Hosted by Minh Vi Exhibition & Advertising Service Co., Ltd (VEAS) and supported by Myanmar Ministry of Industry, Vietnam Textile & Apparel Association and Myanmar Garment Manufacturer Association, the 1st International Exhibition & Conference on Textile & Garment Industry in Myanmar (Myanmar Gar-Tex Expo 2017) will be held from 29- 31 March 2017 at Rose Garden Hotel, Yangon, Myanmar.
The second largest country in South East Asia, Myanmar has been recognized for having a great growth potential in the textile and garment manufacturing in recent years. Currently, Myanmar has the lowest minimum wage and average payout when compared with key garment hubs like China, Thailand, Cambodia, Vietnam and India. Competitive pricing is one of the key factors governing business decisions in the garment industry and, as labor costs contribute about 15% to 20% of the total garment cost, this will directly help Myanmar to edge out other garment manufacturing hubs.
Myanmar witnessed rapid economic growth in recent years. In 2015 the growth rate was increased by 8.7%. The total investment in Myanmar in the year 2015 reached 1.7 billion USD. As for as the textile industry is concerned, exports from Myanmar in recent years exhibited continued growth. In the year 2014, the figure stood at 1.5 billion USD and the corresponding figure for 2016 stands at USD 2.2 billion. The main export markets for Myanmar's textile industry are Japan and South Korea. Nearly 33% of the exports are made to EU and another 25% to the United States. The figure for China stands at 2.4%.
It is expected that the scale of this exhibition has the scope of 2,000 square meters, welcoming 50+ exhibitors worldwide and approximately +3,000 trade visitors & professionals. It will also serve as an ideal platform for international brands to enter the Myanmar Textile & Garment industry market. It will provide businesses and trade development opportunities for enterprises participating in the exhibition. It will create a platform that brings domestic and international enterprises in the textile & garment related industries together for business cooperation, exchanging information, as well as catching up the new and advanced technology and products from around the world such as Germany, Italy, Switzerland, Korea, Malaysia, Vietnam, Thailand, China, Taiwan, Indonesia, Japan, India and Pakistan.
Myanmar Gar-Tex Expo 2017 will be a great chance for local and international enterprises to set up business network among decision makers and professionals in the industry.