Sri Lanka Garment Manufacturers Abolish GSP

Brandix, a large clothing manufacturer in Sri Lanka, pointed out that they have prepared for the EU's possible cancellation of GSP + trade preferences. Brandix President Ashroff Oma said the company considered that the EU's cancellation of trade preferences might increase the cost of the company, but at the same time, the company was also planning to develop new markets in Asia.

Omar said at a news conference that the cancellation of GSP will not be a major concern for the company.

As garment manufacturers, they are expanding their businesses to serve the global market, he said.

Besides, at this time, they are not in a hurry to establish the retail brand of the company, because they expect to provide the source for the world's leading retail chains and brands. This is very important, and their approach is impeccable.

The main purpose of the company is to turn the company into a leading apparel manufacturer recognized by global retailers.

In 2009, the total export revenue of the company reached about $360 million, of which 70% were exported to the United States and the rest to European markets.

Brandix has 27 factories in Sri Lanka and employs about 25000 workers.

The company is communicating with the India government and plans to invest $1 billion to build a clothing city in Andhra Pradesh, India.