Apparels can achieve US $ 5 b target
Conducive environment for Lankan products:
Ramani KANGARAARACHCHI
The apparel industry will be able to achieve the growth target of US
$ 5 billion in 2015 contributing to the GDP and the economy in the
future too.
Ramya Weerakoon |
Newly elected Apparel Exporters Association 200GFP Chairperson Ramya
Weerakoon said the industry is competing in an uneven playing field in
the international arena. Large number of countries are competing in the
international market.
“Despite these challenges it is the only industry that continued to
grow despite the war and the recession,” she said.
Weerakoon said the competitiveness of the Sri Lankan product is
eroded due to various reasons. India has entered into a free trade
agreement with Japan and so is Indonesia with Bangladesh. Preferential
treatment in all the markets they compete both India and Pakistan
support with their export subsidies. This has affected the Lankan
market.
The garments industry will see growth in the coming years. |
Weerakoon said the Human Resource Department is an essential area
that requires attention because of the demand for labour, where
challenges were not existent during the war period.
The new demand for labour has been created by other sectors and by
the apparel industry, but the availability was limited from apparel
industry side.
The target of US $ 5 billion is divided into two in terms of exports
manufactured in Sri Lanka both in new and existing plans.
The balance growth is expected from knowledge based on apparel
exports using the new macroeconomic policy and the trade regime.
Weerakoon hoped to focus on the growth agenda of the industry during
her tenure as the Chairperson.
She appreciated the extensive amendments made to the Inland Revenue
laws, VAT law and other related regulatory mechanisms. However, further
regulatory mechanisms and introducing a conducive environment to make
the country’s export competitive is warranted, she said.
The policy framework has created an interest among all entrepreneurs
to enter into more business activities which will make Sri Lanka an
emerging economy, aspiring to have USD 4,000 as capital.
This has also created a challenge to the industry compelling the
country to look for opportunities in other parts of the country and
industrialists would like to explore this opportunity in full, she said.
The Sri Lanka Institute of Textile and Apparel is to improve its
capacity to cater to the modern demand in the industry. Weerakoon
proposed to the Government to provide vocational training to school
leavers, to engage in training for the apparel industry which could
absorb such trained work force in a very short period.
The industry is now compelled to look at alternatives in the region.
It could provide jobs to the nation, close to their homes. Enabling the
industry to shoulder this responsibility. She requested the Government
to grant possible concessions to go into or to relocate the industry in
regional areas. |