Sri Lanka Apparel Will Achieve Export Target Of US $5 Billion In 2015
Sri Lanka clothing exporter Association
(SLAEA) President Rohan Abeykoon said that by 2015, Sri Lanka
clothing
The US $5 billion export target will be achieved.
Mr. Abeykoon said at the annual general meeting of the association if
Exit
If the numbers and forecasts are accurate, Sri Lanka's clothing exports will reach a US $4 billion mark this year.
He said that figures from January 2011 to October showed that clothing exports increased by 45% over the same period last year.
He added that despite the impact of the global recession on the world garment industry a few years ago, the current debt crisis has affected Sri Lanka's major clothing exports.
market
At the same time, the Sri Lankan industry lost the EU's GSP + preferential treatment, but the clothing industry in Sri Lanka performed exceptionally well.
He said that public utilities increased, such as electricity prices, they asked to reduce public utility costs, but so far, their requirements have not been answered. The clothing industry's electricity price has increased by almost 25-40%. The only excuse is to increase the subsidy to customers by 8%.
He said entrepreneurs were seen as stimulating economic growth, but their interests were ignored.
Mr. Abeykoon said that exports may expand, and some garment importers are developing strategic plans to develop new procurement destinations away from China. Therefore, Sri Lanka clothing industry has room to increase market share.
He said that China accounts for about 35% of the total world clothing trade, which is significantly higher than that of Sri Lanka. Sri Lanka accounts for only 1% of the global garment trade. Therefore, Sri Lanka has much room to promote garment exports, because importers are developing new procurement destinations.
However, the shortage of labour force may be a big obstacle. If the clothing industry really wants to achieve the export target of 5 billion US dollars in 2015, the clothing industry must find a way to solve this problem for a long time.
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