JAAF forecasts improved export performance under better market conditions
View(s):Sri Lanka Apparel, the brand of the country’s garment export sector, says it is confident that the industry would perform well and generate revenue that could surpass the current forecasts through exports to existing, new and emerging markets and with the additional prospects of securing GSP plus concessions from the EU.
“Buoyant with the new administration’s approach to tap lucrative markets such as the US, India and China, the apparel sector will go full throttle to meet buyer demands in terms of competitive pricing and timely delivery and consumer expectations such as quality and product innovations,” a media statement issued by Joint Apparel Association Forum (JAAF) said.
Tuli Cooray, JAAF Secretary General said the industry’s overall performance has been commendable over the past few years with exports reaching US$4.3 billion in 2013 while 2014 is expected to end with $4.7 billion in apparel exports.
In a letter to the President Maithripala Sirisena and Premier Ranil Wickremesinghe, the JAAF has stated that the membership is extremely conscious, mindful and confident that the 100 day programme of the new government will establish rule of law, good goernance and, deepen and strengthen independent democratic institutions, which will pave the way for an equitable and just society. “There is no doubt that such reforms will immensely benefit the export centric economic activities, and on our part as the stakeholders of that agenda, we would be able to significantly contribute to the economic development of the country,” it said.Jointly signed by Forum Chairman Azeem Ismail and Mr. Cooray, the letter further states, “We note in particular that the 100 day programme has focused on improving international market access in that action will be taken to restore the withdrawn GSP+ facility which will boost our exports to the European Union and create more trade and employment opportunities. Further we note with delight that in the policy pronouncement of the Government, it clearly indicates that enhanced market access in existing, new and emerging markets would be vigorously pursued.”
The JAAF pledged its fullest support and co-operation, in order to improve export centric business environment in the country in partnership with the Government as had been done since the inception of the organization in 2002.