'Apparel industry to bring 600 million USD by year end'

Ruwanthi Abeyakoon

APPARELS: The Apparel industry has shown a steady progress over a period of time and continues to grow even after dismantling of the quota regime in 2005," Minister of Enterprise Development and Investment Promotion Rohitha Bogollagama said at the inauguration ceremony of Apparel Industry Suppliers (AISEX) and Fabric and Accessory Suppliers Exhibition (FASE) yesterday.

"Board of Investment of Sri Lanka (BOI) has taken important and strategic decisions to uplift the standards of the industry and increase the foreign exchange earning to the country. In the year 2006 two land mark decisions were taken in developing the textile industry. Thulhiriya was made a textile processing zone led by the private sector and the MoU was signed with Brandix end of last month to use 400 acres of land in Horana for another plant," the Minister said.

The Minister added that the Kabool Lace factory at Pannala would also be reopened shortly. "My Ministry is engaged in developing the backward integration to support the local apparel industry to become more attractive to foreign buyers," he said.

Chairman of the Board of Investment Prof. Lakshman R Watawala said 750 factories in Sri Lanka are export oriented. "Largest export commodity comes from the apparel sector. All Lankan exporters have maintained the competitiveness and received favourable comments internationally. We hope to add 600 million USD to the economy before the end of this year," Prof. Watawala said. He also said that this exhibition would provide ways and means to showcase the latest advances in machinery and technology used in the manufacture of apparel.

Prof. Watawala also pointed out that taking factories into rural areas would enhance the employment opportunities.

Chairman Sri Lanka Apparel Institute Prof. Lakdas Fernando said that around 6000 local and international apparel manufactures are expected to visit the exhibition.

"Sri Lanka is now in the second year of the quotaless trade regime and appear to have weathered the storm relatively unharmed compared to some of the competitors in the region. It is a good opportunity for stakeholders in the apparel manufacturing business," he said.