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

Pic: Shutterstock

Textiles | On 12th Aug 2020

Chinese textile companies' revenues decline in H1

Revenues of major Chinese textile companies with an annual turnover...

Pic: Shutterstock

Textiles | On 12th Aug 2020

Bangladesh's BEZA, Yabang Group sign land lease agreement

Bangladesh Economic Zones Authority (BEZA) recently signed a land...

Pic: BAIRD GROUP

Retail | On 12th Aug 2020

UK's Baird Group unveils CVA proposals

The Baird Group is the latest UK retailer to launch a company...

Interviews View All

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Italtex,

Italtex

Italtex is a leading studio publishing fabric trend-books since 1959....

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Cong Zheng,

Cong Zheng

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

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

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

Leave your Comments


August 2020

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


Advanced Search