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| Thursday, 13 January 2005 |
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by Shirajiv Sirimane Most US companies involved in the textile industry will continue their contracts with Sri Lankan suppliers in the future despite the phasing out of the Multi fibre agreement (MFA) this month, said the visiting United States Congressional delegation Senator Sen. John Corzine. He said that with the MFA coming into play most of the US based companies were to terminate their contracts in Sri Lanka and look towards other countries. "However, with the devastation of the Tsunami in Sri Lanka most of the US companies would continue doing business with Sri Lanka until further notice. They have been touched by the situation in Sri Lanka and would keep on supporting the nation," he said. Sri Lanka's number one foreign exchange earner is from the exports of textiles and garments and with the phasing of the MFA, over 15,000 people were expected to lose their jobs. The USA was one of the biggest buyers of Lanka apparels and with China opening up their export sectors most of the US companies were to tie up with China and other countries which would have resulted in closure of several garment factories. The total foreign exchange from textiles and garments was worth US $ 2575 million as against US $ 2424 million in 2002. Representative of the visiting US Congress delegation, James Leach said that they are also keen to assist the small industries and the fisheries sector in Sri Lanka. The United States Congressional delegation, US Ambassador in Sri Lanka, Jeffery Lunstead, and officials of the USAID visited the tsunami affected areas and devastated schools in the Southern Province on Tuesday. They visited the devastated Sudharmam Vidyalalya, Galle, which is to be rebuilt with the assistance of USAID and the Foundation of Goodness in Seenigama. The congressmen said that rebuilding schools was very important, as it is education that moulds future leaders and businessmen. He also said that US marines are involved in the reconstruction process and their contribution is purely voluntary and non-combat. |
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