Home / Knowledge / News / Textiles / Exporters to face serious challenges in 2009 - JAAF
Exporters to face serious challenges in 2009 - JAAF
08
Nov '08
The Sri Lanka Apparel Institute organized the 'Apparel South Asia Conference (ASA) – 2008' at the Bandaranaike Memorial International Conference Hall (BMICH), Colombo, on 5 and 6 November 2008. This event was designed for manufacturers and exporters of apparel in South Asia, with special reference to Bangladesh, India, Pakistan and Sri Lanka.

Speaking at the event, Mr Ajit Dias, Chairman of Joint Apparel Association Forum (JAAF), stated, “I think we're heading for somewhat of a crisis next year and the industry is gearing itself for it. We're definitely going to face serious issues next year. It will probably be one of the worst years we have had in a long time."

Mr Dias said the US $3.2 billion apparel export industry is the largest contributor to Sri Lanka's economy, accounting for 10 percent of gross domestic products and employing 270,000 people. However, exports to the US, the biggest market till recently, fell 11 percent in the first six months of this year. On the other hand, shipments to the EU rose almost 12.6 percent.

The Chairman stressed, “For the first time we're exporting more to the EU than the US. This is significant because we're losing our market share."

The GSP+ deal comes up for renewal by the end of this year. Under the scheme, the government will give about 100 million dollars to exporters. Mr Dias assured, “According to the GSP + regulations, even if it is not renewed, it will not severely affect exports for the first six months of 2009. The scheme will continue until May 2009, and very probably for six months after that.”

However, he stated, that due to rising costs and falling orders, the loss of the duty free access to Europe would mean reduction in the number of exporters. "There is top line pressure on retailers in overseas markets. Several of our buyers are downsizing and now, after the financial crisis, the situation has got worse. We're definitely going to face serious issues next year."


Must ReadView All

Courtesy: Michael Kors

Fashion | On 25th Jul 2017

Michael Kors to acquire Jimmy Choo

Global fashion luxury brand Michael Kors Holdings Limited has reached ...

Apparel/Garments | On 25th Jul 2017

VF Corp posts $2.4 billion revenue for Q2 2017

VF Corporation has recorded revenue of $2.4 billion, up 2 per cent,...

Textiles | On 25th Jul 2017

Egypt signs agreement with UNIDO for cotton production

Egypt has signed a €1.5 million ($1.74 million) cooperation agreement ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Steve Cole
Xerium Technologies

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

Silke Brand-Kirsch
Schlegel und Partner

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X