The newly elected Chairperson of the Apparel Exporters Association, Ms Ramya Weerakoon, recently stated that, the apparel industry could attain a growth target of five billion USD by 2015, and may thus continue contributing to the GDP and growth of country's economy in future also.
She said that the industry is competing in a uneven playing field in the global sphere, and added that, several Sri Lankan companies in the global market are facing competitive challenges.
However, it is the only sector which managed to deliver positive results regardless of all the challenges like the 2008 global economic slump, she said. But then, there are several factors which are corroding competitiveness of Sri Lankan goods, like for instance India has inked a free trade pact with Japan and also with Bangladesh and Indonesia.
All the markets in which the Sri Lankan industry enjoys preferential benefit, it faces competition from countries like India as well as Pakistan which even have the advantage of export subsidies in respect of export to these countries, which is badly hitting Sri Lankan exports.
The Sri Lanka Institute of Textile and Apparel is working to enhance its capacity so as to meet the needs of the modern industry. In view of all this, Ms Weerakoon advised the government to provide vocational training to the school drop outs, to prepare them for the apparel industry, which has potential to provide prompt employment to such people.
Fibre2fashion News Desk - India
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