Laos aims for 10% textile export increase
According to the Laos Textile and Garment Producers’ Association, the country is planning to its garment and textile exports by 10% in 2008 to a total of $167 million. The association reported that exports for the textile and garment sector in the first quarter totalled $37 million.
These products have managed to penetrate the European and US markets and benefit from import and export taxes in the US. The European Union also recently announced it would give the country priorities in order to boost the Southeast Asian nation’s trade and economic development.
Laos now has 57 garment and textile enterprises with more than 30,000 workers. The association hopes that foreign investment will help the country’s textile and garment sector to meet its objectives.
