Apparel strategy to focus on new markets
The-five year strategic plan for the development of the apparel
sector will focus on markets such as Japan, Russia, India and China and
also emerging markets in South America.
It emphasises the need to cater to high niche markets in countries
such as Australia.
The new market opportunities could be facilitated by entering into
trade agreements with emerging markets.
A proactive policy in this regard is vital not only for apparel, but
exports as a whole, Joint Apparel Association Forum Secretary General
Rohan Masakorala told the Daily News Business.
The five year strategic paper has been presented to the Government
and will be released by the end of this month.
The plan proposed to make the apparel a four billion dollar industry
by 2015 is working towards a common mechanism to expand market access.
The implementation of the comprehensive five-year strategic plan for
the development of the apparel sector will boost industry growth.
The issues highlighted need to be addressed and this will enable the
industry to move forward and to grow in a challenging time generating
foreign exchange and employment opportunities, Masakorala said.
Action will be taken to brand Sri Lanka's apparels in the global
market positioning the country as an apparel sourcing destination.
The apparel industry faces strong competition from global new players
and making Sri Lanka's industry as a value addition would benefit the
industry growth and sustainability in the long run, Masakorala said. (SJ)
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