Textile & garment sector essays to enlarge exports to EU

29 May '08

2 min read

Textile and garment sector of Laos have evinced an upbeat scenario earnings US $37 million from exports in the first three months of 2008.

In an exclusive interview with Fibre2fashion, Mr Noulack Phounmalay, Director of Administration of the Association of the Lao Garment Industry (ALGI) said, “The industry has plans to further increase its garment and textile exports by 10 percent this year to touch $167 million.”

Mr Noulack also affirmed that the country's main markets are EU, Japan and Canada with whom it enjoys GSP preference while USA (with NTR) market is also increasing with every passing year.

Besides, the European Union has also made an announcement giving Laos priorities in order to help the Southeast nation boost trade and economic development.

Presently, the association is also working in close cooperation with other countries like Cambodia and China, who monopolize a major chunk of garment and textile markets in Europe.

This strategy will indirectly help Laos to reinforce its exports to EU countries. There are about 57 garment and textile enterprises in the country and the Government is optimistic about attracting a substantial amount of foreign direct investment into this sector giving it a major boost.

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Fibre2fashion News Desk - India