Home / Knowledge / News / Apparel/Garments / China looks forward to early FTZ with Sri Lanka: Official
China looks forward to early FTZ with Sri Lanka: Official
17
Sep '13
Mr. Rajapaksa (L) and Mr. Yunshan (R)
Mr. Rajapaksa (L) and Mr. Yunshan (R)
China is looking forward to the establishment of a China-Sri Lanka Free Trade Zone (FTZ) as soon as possible, senior Communist Party of China official Liu Yunshan told Sri Lankan Economic Development Minister Basil Rajapaksa during the former’s visit to Colombo last week, according to a statement from the Chinese Embassy in Colombo.
 
In response, Mr. Rajapaksa said Sri Lanka is confident of an early signing of a free trade deal with China, given the positive progress in the negotiations over the past six months.
 
While China is the world’s largest exporter of textiles and apparel, Sri Lanka is a manufacturing hub for lingerie, T-shirts and blouses.
 
In fact, the garment sector accounts for nearly half of the entire Sri Lankan industrial output.
 
At present, Sri Lankan exports of textiles and apparel attract duty ranging from 14 percent to 25 percent in China, and if the free-trade deal fructifies, all textile and clothing items from Sri Lanka would be able to enter the Chinese market duty-free.
 
This would also help some of the global apparel brands that have their manufacturing facilities in Sri Lanka, according to industry analysts.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 20th Jan 2017

Christopher & Banks revises fourth fiscal guidance

Specialty women's apparel retailer Christopher & Banks Corporation...

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mark Paterson
Technical Absorbents Ltd

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
January 2017

January 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