India announced that it will help Myanmar revive 300 garment factories. When Indian Union Minister of Commerce, Industry and Textiles Anand Sharma met with Myanmar President UThein Sein recently, he said that he would provide US$5 million in credit to help Myanmar revive these factories.
The South India Textile Research Association (SITRA) will provide technical assistance for the revival plan of these mills. Private companies will play a large role in the revival and enter into joint ventures with these defunct garment factories. Sharma said a delegation of experts, officials and businessmen would visit Myanmar within two weeks.
India will also work with Myanmar to develop a standard code of conduct and best operating practices for factories to abide by. The minister proposed to the President of Myanmar to establish a common compliance code based on technical assistance from India’s AEPC to improve Myanmar’s compliance standards for exports to developed countries.
