Home / Knowledge / News / Apparel/Garments / 'GSP+ can push SL's apparel exports to $20 bn by 2020'
'GSP+ can push SL's apparel exports to $20 bn by 2020'
10
Jun '16
The expected award of European Union's GSP Plus status can push Sri Lanka's apparel export earnings to $20 billion by 2020, from around $5 billion at present, primary industries minister Daya Gamage has said.

“Due to the efforts of prime minister Ranil Wickremesinghe and president Maithripala Sirisena, Sri Lanka will once again be awarded with the GSP Plus. This will be a major advantage for the industry and it could take the country to the apparel export target of $20 billion by 2020,” Gamage said at the inauguration of three-day Apparel Industry Suppliers Exhibition (AISEX) in Colombo.

The apparel industry contributes more than 45 per cent to the total merchandise exports from Sri Lanka, but the value addition is still around 50 per cent, Gamage said.

He stressed on encouraging more apparel accessories to be made in Sri Lanka, and added that AISEX 2016 would help towards that goal.

“Sri Lankans should also look at more R&D for the industry to be more competitive,” he added.

AISEX has been revised after seven years, following a visit by an EU delegation and the increased prospect of Sri Lanka achieving GSP Plus.

The event is being organised by Lanka Exhibition and Conference Services Ltd (LECS) and supported and endorsed by the Sri Lanka Apparel Institute (SLAI), Joint Apparel Association Forum (JAAF), Sri Lanka Institute of Textile and Apparel (SLITA), and the ministry of industry and commerce. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search