Friday, September 17, 2021

Raise value-added share in exports to EU to 65%: SLCGE in Sri Lanka

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To take full advantage of the Generalized Preference Scheme Plus (GSP +), the Sri Lankan apparel industry should vertically increase its share of value-added products in exports to the European Union (EU) as soon as possible. It should be increased from 52% to 65%. According to Hemantha Perera, Secretary-General of the Sri Lanka Garment Exporters Conference (SLCGE), the integration of the country’s apparel industry is one of the fastest ways to achieve that.

Perera, an executive member of the Sri Lanka Joint Apparel Association Forum (JAAFSL), said this in a panel discussion on “GSP Plus: Past, Present and Future” hosted by the Chamber of Commerce and Industry Federation. Recently, Sri Lanka (FCCISL) and the Colombo Chamber of Commerce.

JAAFSL is working with government and industry companies to develop solutions that add value to the apparel sector, and establishing a fabric processing park in Eravur is the first step.

Certain fabrics used in the production of apparel are currently imported from areas that disqualify products subject to tariff reductions under the EU’s GSP + concessions, Perella said. He said the disqualification could be resolved by local production of such inputs.

“Currently, we lack the infrastructure for features such as dyeing and printing. These are essential to improve key indicators such as lead times and enhance the potential output of the industry. , Our competitiveness depends primarily on factors such as ethical manufacturing practices, compliance and the high skill level of our employees, “he reportedly said in a media report in Sri Lanka.

Fiber2Fashion News Desk (DS)

To take full advantage of GSP Plus, Sri Lanka’s apparel industry needs to increase its share of value-added products in exports to the EU from 52% to 65% as soon as possible, and the vertical integration of the country’s apparel industry It is one of them. According to Sri Lankan clothing exporters, the fastest way to achieve that.

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Raise value-added share in exports to EU to 65%: SLCGE in Sri Lanka

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