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Sri Lanka, PRC sign MoU to deepen apparel trade ties
02 Feb '21
1 min read
Pic: Shutterstock
Sri Lanka and China recently signed a memorandum of understanding (MoU) to boost bilateral apparel trade that was severely affected by the COVID-19 pandemic. The China National Textile and Apparel Council signed the agreement with Sri Lanka’s Joint Apparel Association Forum (JAAF) to strengthen the working relationship between the two associations.
Other key objectives of the agreement are to promote value chain cooperation in the two countries, increase mutual visits, promote exchanges and improve mutual trust among industry personnel.
The effort was initiated by the embassy of Sri Lanka in Beijing, JAAF chairman A Sukumaran and China National Textile and Apparel Council vice president XuYingxin, according to a Sri Lankan newspaper report.
Sri Lanka also invited investors from China to explore investment opportunities in the upcoming textile park in Eravur.
Apparel and textile trade between China and Sri Lanka has expanded over the last three years and in 2019, the total textile and apparel trade between the two countries reached $1.24 billion.
Other key objectives of the agreement are to promote value chain cooperation in the two countries, increase mutual visits, promote exchanges and improve mutual trust among industry personnel.
The effort was initiated by the embassy of Sri Lanka in Beijing, JAAF chairman A Sukumaran and China National Textile and Apparel Council vice president XuYingxin, according to a Sri Lankan newspaper report.
Sri Lanka also invited investors from China to explore investment opportunities in the upcoming textile park in Eravur.
Apparel and textile trade between China and Sri Lanka has expanded over the last three years and in 2019, the total textile and apparel trade between the two countries reached $1.24 billion.
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