Home / Knowledge / News / Apparel/Garments / Sri Lanka to expand apparel trade with South Korea

Sri Lanka to expand apparel trade with South Korea

Apr '12
Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka met Sihyung Lee, Deputy Minister for Trade of Republic of Korea on 22 April on the sidelines of the 13th Ministerial Meeting of UNCTAD General Assembly Session at the Qatari National Convention Center, Doha.

Minister Sihyung Lee was apprising Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka during a Sri Lanka-South Korea bilateral session held on the sidelines of the 13th Ministerial Meeting of UNCTAD General Assembly Session at the Qatari National Convention Center, Doha.

Apprising Minister Sihyung Lee, Minister Bithiudeen stated: “Sri Lanka is keen in studying the different avenues available for promotion of Sri Lankan products in the Korean market with special emphasis on apparel and tea, either in the context of the Asia-Pacific Trade Agreement (APTA) or some other mechanism.

As a preliminary step in this process, I would like to explore the possibility of leading a business delegation on the occasion of Sri Lanka's participation in the EXPO 2012 Yoesu, Korea, scheduled to be held in Yeosu over a period of three months, commencing from 12th May – 12th August, 2012 this year.”

Sri Lanka and South Korea are members of the Asia Pacific Trade Agreement (APTA) formerly known as Bangkok Agreement / which was signed in 1975 with the initiative of the ESCAP for promoting intra-regional trade through exchange of mutually agreed tariff concessions by member countries. Sri Lankan apparel products have been making inroads to the South Korean market under the APTA. However, the value of apparel exports has remained rather modest, averaging around US$ 6.5 Mn.

According to the Department of Commerce of Sri Lanka, the overall value of Sri Lanka – South Korea trade currently stands at US $ 432 Mn. While Sri Lanka's exports to South Korea were registered at US $ 45 Mn in year 2011, Sri Lanka's imports from South Korea amounted to US $ 387 Mn. In the same period.

Main export items from Sri Lanka to South Korea include coconut fibre, rubber products, articles of apparel clothing & accessories, used pneumatic tyres of rubber, Furniturewhile Sri Lanka primarily imports were iron and steel, boilers & machinery parts, knitted or crocheted fabrics, light-vessels, fire-floats, dredgers, man -made filaments, cotton woven fabrics, special purpose motor vehicles, electrical machinery and equipment and parts, plastics and articles, etc.

To promote bilateral trade further, Sri Lanka Export Development Board and the Korean Importers Association (KOIMA) signed an MOU on the side-lines of the Sri Lanka Expo 2012 in March this year.

Minister of Industry and Commerce of Sri Lanka

Must ReadView All

Pic: Shutterstock

Textiles | On 25th Feb 2020

US surpasses China as India's biggest trading partner

The United States has surpassed China to become India's top trading...

Pic: Shutterstock

Textiles | On 25th Feb 2020

Coronavirus may shift buyers to Turkey, fuel cotton growth

The coronavirus outbreak will cause a possible shrinking of China's...

Pic: Shutterstock

Apparel/Garments | On 25th Feb 2020

Tough for Vietnamese firms to follow EVFTA rules of origin

Though Vietnamese textile and garment firms are aware of the...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

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

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Davide Vigano, Sensoria

Davide Vigano

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

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

Igor Chapurin, Chapurin

Igor Chapurin

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

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search