Secretary General, Joint Apparel Association Forum Sri Lanka (JAAF) Yohan Lawrence hailed the proposed signing of the Economic Cooperation and Trade Agreement (ECTA) with India.
“The ECTA will create renewed export opportunities to the Sri Lankan apparel sector,” he said. Under the current FTA, Sri Lanka is only permitted to export 8 million pieces of ready-made apparel to India without applicable duties.
He opined this at the launch of the `CEMS Lanka (Pvt) Ltd’ organised Textile / Garment Machinery, Dyes & Chemicals, Yarn & Fabric, Power & Energy and Shipping & Logistics exhibitions which will be held on February 29 to March 2 at SLECC hall Colombo Fort. CEMS have cooperated with JAAF, Sri Lanka Apparel Exporters Association, Industrial Development Board, Ministry of Power & Energy, Sri Lanka Ports Authority for this event.
The Indian middle class is growing at a rapid pace and there is a demand for Made in Sri Lanka apparels to India. “if apparel export quota could be increased it could bring in more FOREX to Sri Lanka and this can be done through signing of the ECTA.” In 2022, India and Australia signed the ECTA, which helped to increase trade between the two countries.
“Textech Sri Lanka International Expo gives a good opportunity for local apparel companies specially the SME ones to acquire new technology, get new machinery and have better access to raw materials via new partners who will be participating at the event all under one roof.”
Chairman/ CEO of Sri Lanka Export Development Board (EDB) Dr. Kingsley Bernard said that due to global geo-politics and other issues apparel exports from Sri Lanka were far below potential last year. “However the scenario is now changing for the better and we expect the industry to be back to its robust line soon.”
Group CEO of CEMS-Global USA, S. S. Sarwar, said that they launched exhibitions in Sri Lanka soon after ending of LTTE hostilities and since then, CEMS-Global with its CEMS Lanka office has been giving all its efforts and held important B2B Trade Shows for the Textile & Apparel Industry, Logistics & Shipping, and Power & Energy sectors of the country.
CEMS Global USA’s B2B Trade Exhibitions span various industries and 4 continents, and one of its notable series focuses on the Textile sector.
“Our Textile Series of Exhibitions which are held in Bangladesh, Brazil, Morocco, Sri Lanka and Thailand; serve as a vital platform for Global Manufacturers of the textile and apparel sector to come together, tap highly potential markets, and showcase the latest trends, products, and technologies.”
Shirajiv Sirimane