Home / Knowledge / News / Apparel/Garments / EU re-opens its market to Myanmar from July 19
EU re-opens its market to Myanmar from July 19
18
Jul '13
From July 19, 2013, Myanmar, previously Burma, would benefit once again from a special, advantageous trade arrangement with the EU, according to a statement from the European Commission in Brussels.
 
Myanmar would be brought back under the EU’s 'Everything But Arms' preferential trade regime, which grants duty-free and quota-free access to the European market for all products except for arms and ammunitions, following the Southeast Asian nation's recent efforts to improve the political, social and labour environments within the country.
 
“The trade preferences for Myanmar/Burma will be applied retroactively as of 13 June 2012, the day when the International Labour Organisation (ILO) Conference first recognised progress in the labour rights situation in Myanmar/Burma,” said the statement.
 
The EU suspended its trade preference to Myanmar in 1997 as a result of the country's serious and systematic violations of core international conventions on forced labour.
 
Myanmar would benefit from the 'Everything But Arms' scheme because the United Nations classifies it as a 'Least Developed Country' (LDC).
 
"Trade is fundamental to supporting political stability and the EU's trade preferences mean we will give this reform-minded country priority access to the world's largest market. This has the potential to make a huge difference to the country's economic development and to bring real benefits to the people there,” EU Trade Commissioner Karel De Gucht said.
 
“The EU is also going to help Myanmar boost the capacity of both public and private firms to make use of these new opportunities," he added.
 
“The European Commission believes that, despite the many structural constraints the country continues to face, under the 'Everything But Arms' preferential trade regime, Myanmar/Burma should see an increase in exports to the EU,” the statement said.
 
Subject to the retroactive submission and approval of the relevant certificate of origin, exporters in Myanmar/Burma will be able to claim back the import duties paid since June 13, 2012.
 
In 2012, Myanmar’s exports to the EU totaled €164 million, which is approximately 3 percent of the country's total exports to the world, and 0.01 percent of the EU's total imports. Most of these exports to the EU were clothing items.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Information Technology | On 25th Apr 2017

Self-repairing fabrics to be the future of fashion

It is the era of smart. Intelligent materials like self-repairing...

Textiles | On 25th Apr 2017

Indonesia revitalising textile sector

With exports of textile and textile products rising in Indonesia, the ...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search