Sri Lanka Garment Industry Wants India To Expand Trade Preferences
Sri Lanka garment industry recently called on its government to trade negotiations with Russia, China, Japan and Brazil, and hoped that India will expand its existing trade preferences to Sri Lanka to reduce Sri Lanka's dependence on the EU and the United States. It is understood that clothing is the largest export item in Sri Lanka.
The representative office of Sri Lanka clothing industry, Joint Apparel Association Forum (JAAF), Rohan Masakorala, said: "at present, more than 90% of the exported garments are exported to the United States and the European Union, but there are other excellent markets such as Japan and Australia, and our competitors have already enjoyed preferential treatment in exporting to these countries."
"Our competitors have already negotiated trade agreements. Therefore, in our 5 year industrial policy report, we have suggested that the government should negotiate trade agreements with appropriate countries. The new market can not immediately replace the United States and the European Union. But in the long run, the new market will generate new opportunities for economic growth and reduce the risk of excessive concentration of the market. Masakorala said.
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