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)