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| Friday, 21 November 2003 |
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FTA will boost apparel exports to US when quotas cease by Nadira Gunatilleke the Free Trade Agreement will strengthen and inprove business here between United States and Sri Lanka. Since there are no problems with relation to child labour and social issues, Sri Lanka is an excellent base to do business, said the Head of the Jones NY Divisions Polo Jeans and Lily, Isaac Dabha. He was addressing the media at the Lanka Export Development Board in Colombo yesterday. Polo Jeans and Lily are well known brands in the international market. Dabha is the former CEO of Gloria Vanderbilt Apparel Corporation and he is currently touring in Sri Lanka on business. He will hold discussions with the Commerce and Consumer Affairs Minister Ravi Karunanayake and Enterprise Development, Industrial Policy and Investment Promotion and Constitutional Affairs Minister Prof.G.L.Peiris during his stay in Sri Lanka. Dabha said that Sri Lanka will be able to double the business next year. India is the main challenge for Sri Lanka and that is one of the main reasons that the US is interested in signing a FTA with Sri Lanka to create a balance. Sri Lanka should sign a free trade agreement with the US similar to the FTA exists between Africa and the US. When a Free Trade agreement is signed with the US, Sri Lanka will be able to create more employment opportunities. There is no fabric wastage in Sri Lanka at all and the labour force is more trained in comparision with other markets, he added. USA is the major market for export of Sri Lanka apparel, accounting for 64 percent of its exports. Exports from Sri Lanka to US in 2002 was US $ 1400 million. But the Lankan exports account for only two percent of the US imports. In 2002 the garment sector accounted for 50 per cent of Sri Lanka's total exports. The growth of the industry can be clearly seen with exports increasing from a mere US $ 623 million in 1990 to US $2.4 billion in 2002. There are over 800 factories directly engaged in the production of apparels for export, providing employment to nearly 350,000 including factories in the export processing zones. A large segment of the industry now has state of the art equipment and quality control systems to meet the stringent requirements of the buyers. The industry uses computer aided designs and computer aided manufacturing systems (CAD/CAM). Advanced technology including needle detectors are used, particularly in factories dealing with infants and children's clothing. |
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