‘Apparel sector can explore Asian market’
Charumini de Silva
Sri Lanka has maintained high quality and standards in their
apparels. Although the GSP+ concession is withdrawn, the apparel
industry has the capability of exploring the Asian market, which has
shown a tremendous economic improvement, Confederation of Asia-Pacific
Chambers of Commerce and Industry (CACCI) President. Benedicto Yujuico
told Daily News Business.
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Benedicto Yujuico |
Sri Lanka’s apparels could give a healthy competition to other
suppliers. The market capacity of Asia is growing rapidly.
Sri Lanka should take this opportunity of entering into the Asian
market and get the advantage of their high quality products, Yujuico
said.
Sri Lanka has various opportunities to cross the threshold of the
international market. The identified key industries are tourism,
manufacturing, power, apparel, hydro power and gem and the jewellery
industry.
He said the country should focus on attract the benefits of having
the advantage of low cost, knowledgeable, skillful and a hardworking
labour force.
“The cost of labour is comparatively low in Sri Lanka. The investors
have a better chance of setting up their factories in here. The
Government is taking effective steps to create a investment friendly
nation for the investors,” he said.
This is the ideal time for investors to setup factories and business.
There is an improvement in the country.
The contribution of the local entrepreneurs has shown a significant
improvement. This is an indication that the investor confidence has
enhanced with country’s economic stability.
In attracting investments towards the country is it vital to have
regular linkage within the countries.
The connectivity is very important in creating a centre of attention
for business.
The CACCI selected Sri Lanka as the country has shown a rapid
development and is becoming an emerging economy in the South Asian
region.
The main purpose of the conference to be held in Sri Lanka was to get
the first information for the opportunities available in Sri Lanka. The
24th CACCI conference in Sri Lanka was a success, he said.
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