Overseas Garment Retailers Begin To Return To Sri Lanka

Garment manufacturing industry in Sri Lanka Frustrated by the global economic crisis in 2008, the clothing industry has begun attracting overseas buyers, and overseas buyers are beginning to return to other cost competitive Asian countries for procurement.

　　 Chief executive officer of Sri Lanka Brandix Ltd. (M Raghuraman is responsible for corporate marketing and brand), the main reason is that the overall price of Sri Lanka clothing is still related to customers, and overseas buyers have established long-term and solid cooperative relationship with domestic suppliers. Sri Lanka's industry has also proved to be very resilient and remains a reliable supplier under difficult circumstances.

He continued, "in fact, Sri Lanka's exports to Europe continued to grow, despite the recession and the EU's abolition of the GSP + concession in Sri Lanka. In 2005, when Sri Lanka was granted duty-free treatment to the European Union, clothing exports amounted to $1 billion.

In 2009, when the recession was most severe, Sri Lanka exported to the EU $1 billion 650 million, an increase of 3% compared to the same period last year. Although the tariff free access was abolished in 2010, Sri Lanka exports still increased 3% compared with 2009.

Exports also showed strong growth in the first 4 months of this year. There are many contributing factors for large retailers to re-establish inventories, and some suppliers have encountered rising costs and labour unrest.

He said: "the clothing industry continues to develop various ways to increase the added value for our customers. We are located in a successful area where clothing exports exceed US $40 billion.