Home / Knowledge / News / Apparel/Garments / Sri Lankan apparel exports to EU may dip after 2014: Study
Sri Lankan apparel exports to EU may dip after 2014: Study
07
Feb '13
From 2014 onwards, it might become difficult for Sri Lanka to export its apparels to the European Union, as it may lose its market share to other competitor countries like Bangladesh, Cambodia, India, Pakistan and Vietnam, according to a recently released study by the Institute of Policy Studies (IPS).
 
In 2010 and 2011, Sri Lankan share in EU garment market witnessed a marginal decline compared to 2009, and it is expected to decline further, as the EU GSP Plus concessions have eroded, says ‘Sri Lanka: State of the Economy 2012’, released by the IPS.
 
Sri Lankan garments would have to pay higher tariffs to enter the EU once the new reforms come into effect in 2014, the study says.
 
On the other hand, Bangladesh already enjoys GSP Plus concessions, while Pakistan is also likely to become eligible soon for such concessions. Moreover, India is likely to soon sign a free trade agreement (FTA) with the EU, which would provide tariff preferences to Indian apparels in EU from 2014.
 
Hence, in view of competitor countries gaining tariff concessions, it would be a challenge for Sri Lanka to secure its market share in the EU after 2014, according to the report.
 
Sri Lankan apparels have also steadily lost their market share in the US from about 2.3 percent in 2005 to just 1.8 percent in 2011, the study adds.
 
The report suggests that the Sri Lankan garment sector should diversify its export market and commends the rapid inroads made in to new markets like Turkey and the UAE in recent years.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

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

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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