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Clothing Exporters In Sri Lanka Seek Diversified Markets

2011/5/31 14:32:00 36

Considering more than 90% in Sri Lanka.

Garment export

Only in the two regions of the world: the United States and the European Union, the clothing industry in Sri Lanka is trying to infiltrate into other markets, such as China, Brazil, India, Russia and Japan.

Pluralism

market

With the progress made in these overseas markets, the clothing department of Sri Lanka is seeking free trade agreements with these countries, which will help the clothing sector to increase exports.

For example, in 2010, Sri Lanka's clothing export revenue reached 3 billion 350 million US dollars, of which exports to the United States amounted to US $1 billion 370 million, exports to the EU market reached US $1 billion 700 million, and branches accounted for 40% and 50.6% of the market share.

"According to the observation, more than 90% of clothing exports in Sri Lanka depend on two major markets in the United States and the European Union, which clearly requires the diversification of the market," said Weerasinghe, a senior consultant at JAAF.

Secondly, when measures are taken to increase the market share of the two markets, the analysis of global import data encourages us to pay attention to the economies of those countries with high economic growth channels.

These countries continue to manufacture and export garments. "

Weerasinghe said: "the clothing industry in Sri Lanka has set a target of US $5 billion in 2015.

Diversification is very important for achieving this goal.

Thirdly, since the end of the international military conflict in the middle of 2009, the garment industry has become one of the development partners of the post-war government's development efforts.

Therefore, it is necessary to increase the market share of these new markets and provide employment opportunities for unemployed young people, including young people in the north and east of the country.

Against this background, the garment industry will focus on Japan, Russia, China, Brazil, Canada and the development of market penetration.

Increasing market access to guided markets has yielded initial results.

At present, according to the provisions of the India Sri Lanka free trade agreement, Sri Lanka can export 3 million garments to India on the basis of quota free tax, which has been fully utilized in 2010.

However, the quota for the additional 5 million pieces is still unused, which is due to the restriction that the 5 million garments should be made of India fabrics.

The clothing industry in Sri Lanka expects that the government will receive 10 million annual quotas without any port, fabric and tariff restrictions, and should be exported to India tax-free. "

The garment industry in Sri Lanka has 30 years of experience and has grown into a mature industry and has become the largest supplier of international brands.

In addition, the high level of compliance and excellent labor practices have made Sri Lanka's garment industry a responsible industry and become a comprehensive service providing industry, which can promote behavior in the new market and achieve diversification of exports.