Aberdeen, Hong Kong S.A.R., May 11, 2013 --(PR.com
)-- To facilitate volume buyers with a new complementary supplier base to China furniture sourcing, the non-profit Hinrich Foundation has released the Myanmar Sourcing Report: Furniture with the support of its partner in development, Global Sources (NASDAQ: GSOL).
The Report features profiles of 25 export suppliers with verified manufacturing and production capacity, plus descriptions, prices and packaging details for more than 170 popular export products ranging from indoor to outdoor furniture.
“Many buyers are looking to diversify their supply base beyond Greater China,” said Alex Boome, program director of the Hinrich Foundation. “The abundant supply of indeginious raw materials, strong OEM capability and significant openness for exports give Myanmar suppliers distinct competitive edges to welcome new global buyers and investors.
“Our survey indicates that suppliers tend to emphasize on featuring basic and simple styles in the next 12 months in respond to extended slump demand from the main export markets. However, they are optimistic about the export performance this year because of new consistent orders from EU and Asia Pacific markets.”
More sourcing opportunities for global buyers, more jobs created
“The Sourcing Report is an important component of the Hinrich Foundation’s Developing Country Export Assistance Program,” Boome said. “The aim of the program is to assist small- to mid-sized export manufacturers in Indonesia, Cambodia, Vietnam, India, Indonesia, the Philippines, Nepal and Myanmar to tap new export markets. As a result, suppliers can hire more workers and create sustainable jobs.
“We can only succeed in our mission if we give buyers information on quality suppliers who totally understand their requirements. The suppliers we feature in Developing Country Sourcing Reports are experienced with export capability and are eager to work with buyers.
“They are also trained face-to-face by our export consultants to communicate with business buyers more professionally. Each featured in the Report has a free marketing website on Global Sources Online to promote their own company profile and other 20 products with standard specifications in front of relevant buyers.”
Survey results outline product developments, price trends, and supplier capacity
Total annual exports of featured suppliers are more than $17 million. They employ more than 2,600 full-time workers, who can produce up to 50,000 million pieces a month.
In addition to industry overview and prices forecasts, the Report offers survey results from featured suppliers. High-level results show:
* 56 percent will target the EU as the main export destination;
* 60 percent anticipate export sales to increase at least 10 percent;
* 88 percent expect the export sales to increase, and;
* 20 percent plan to hold export quotes.
Sourcing Reports for Vietnam, India, Cambodia, the Philippines, Indonesia and Nepal
The Myanmar Sourcing Report: Furniture is one of a series of Reports in Asia. Free previews and ordering information to purchase online for immediate download is available at China Sourcing Reports website.
The next Sourcing Report is Myanmar Sourcing Report: Wooden Flooring & Decking and the next report to be published in May is Indonesia Sourcing Report: Indoor Furniture. Those reports will be available to purchase online at our website.
About the Hinrich Foundation
The Hinrich Foundation believes sustainable global trade promotes peace. It aims to encourage the private sector and governments to drive innovation and competitiveness in trade-related activities undertaken by individuals, companies, industries and countries by focusing on three programmatic areas:
* International trade policy research: the Hinrich Foundation believes that the health of the global economy and peace between nations depend on countries having productive trade relationships, which require open, fact-based dialogues. We initiate research, elicit opinions and disseminate information about global trade to encourage objective debate and balanced policy making in support of open, free, transparent and fair global trade.
* Trade related education & training: We sponsor educational opportunities for individuals who show a commitment to participating in or promoting innovative and competitive global trade. The Hinrich Foundation offers scholarships to students from Myanmar, Cambodia, Vietnam, Laos and China to study in Hong Kong, Thailand, The Philippines and the US. We give our scholars internships and on-the-job training in export related companies and organizations in ten countries.
* Export led job creation: The Foundation offers practical trade services to promote and coach producers on how to participate in global trade. Through the Developing Country Export Assistance Program, the Hinrich Foundation connects exporters in developing Asia with buyers worldwide.