Ministry Of Commerce: Sri Lankan Garment Exporters Strongly Demand To Increase Export Quotas To India
The Sri Lankan Daily Mirror reported on November 9 that during the recent India Sri Lanka Business Summit, Sri Lankan clothing enterprises, represented by MAS and Brandix, said that in the context of sluggish demand in major global markets, in order to promote clothing exports, Sri Lankan major clothing enterprises are paying more attention to the Indian market, calling on the government to increase clothing export quotas to India, To promote bilateral trade.
According to the bilateral free trade agreement, Sri Lanka can currently export 8 million pieces of clothing to India duty-free. As competitors have more advantageous market access arrangements, Sri Lanka's share in the global clothing market is accelerating to decline. According to statistics, clothing exports from Sri Lanka from January to September were only US $3.4 billion, a year-on-year decrease of 20%, including US $1.36 billion, US $1 billion and US $480 million in clothing exports to the United States, the European Union and the United Kingdom, respectively.
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