Sri Lankan apparel sector expects the return of European Union’s trade concession GSP Plus which is likely to balance out potential effects from the TPP agreement, the biggest global trade agreement in two decades.
Sri Lanka’s Industry and Commerce Minister Rishad Bathiudeen speaking at his Ministry’s annual Ransalu textile expo inauguration event on 18 December at BMICH in Colombo stressed that the Trans Pacific Partnership (TPP) agreement signed in early October needs to be studied further as there are many concerns in trade sectors across the world that this October’s Trans Pacific Partnership agreement could have an impact on them.
Minister Bathiudeen also said that the government is trying to position Sri Lanka among the top 10 high quality apparel manufacturing countries in the world by 2020. In such a background this annual Ransalu series of exhibitions is a great way to showcase their large scale as well as SME textiles.
In fact the ministry has spent nearly Rupees 88 million in 2013 and 2014 for development programs in handlooms as well. They also send their local apparel craftsmen for Textile Technology training to Kerala India.
Sri Lankan Prime Minister Ranil Wickremesinghe said that he too believe TPP agreement needs further study. At the same time, the government is moving forward on EU GSP Plus facility as well. Government’s timely initiatives to regain GSP Plus likely cancel to out any potential effects of TPP on their apparel sector.
The latest good news on apparel sector is that two weeks ago the global textile web site “just-style.com” announcing Lankan apparels’ continued top slot in the USA market.
Sri Lankan apparel industry has set a new export target of US$ 10 billion by 2025 and the government supports it. In 2014, Sri Lanka’s apparel export values totaled US$ 4.9 billion.
HKRITA has developed an intelligent clothing system that can automatically adjust its thermal insulation according to changes in temperature.
British knitwear manufacturer John Smedley and London-based fashion label Wales Bonner have released their second co-branded collection for Autumn/Winter 2026.
ReFiber has launched a campaign to collect unused clothes from consumers and help address the growing problem of post-consumer textile…
Swedish outdoor brand Peak Performance has introduced its new Treeline shell collection, designed for people who enjoy outdoor activities throughout…
Xtep has launched its new flagship marathon running shoe range, the 160X 8.0 Ultra, featuring a high-end GT1200 carbon sole…
Researchers at National University of Singapore have developed a method to transform difficult-to-recycle carbon fibre and epoxy composite waste into…