Sri Lanka plans to have a different approach to the apparel sector and to implement a new model of business to reach five billion dollars in exports this year.
With this in view, Sri Lanka is restructuring its production infrastructure and planning a new raft of trade agreements. With the anti dumping laws in place, entering into trade agreements is expected to have far reaching benefits. The skills development aspect is given careful consideration. Since there is a labor shortage in the sector, youngsters will be encouraged to join the industry. The supply chain will be integrated while meeting the needs of international buyers. To ensure products are competitive a structural adjustment program will be put in place.

The country earns 43 per cent of its foreign exchange through apparel and textile exports.

As most competing countries including Bangladesh, Vietnam, India, Indonesia, China and Ethiopia are producing for international markets, Lanka will work accordingly.

Since India’s burgeoning middle class is increasingly keen on branded apparel, Sri Lankan knitwear producers are confident that they can cater to a segment that is increasingly looking at quality purchases.

The country recorded 4.88 billion dollars for apparel exports in 2017. Sri Lanka enjoys the benefits of GSP Plus.