The aim of Sri Lankan apparel industry is to become supplier of higher-end apparel to the Chinese local brands, the Joint Apparel Association Forum (JAAF) has said.
Sri Lanka’s apparel industry has grown over the years and has now become a mature international player that supplies to several leading brands, and its supplies to the low end of the market has significantly reduced, JAAF said in a statement.
Tuli Cooray, secretary-general of JAAF, said China is the priority market for Sri Lanka, as in addition to being a top exporter of garments to global markets, China also has its own domestic demands and the country imported US$ 4 billion worth of clothing in 2012.
The scope for apparel exports to China can be gauged from the fact that China’s apparel imports grew from US$ 2.2 billion in 2010 to US$ 4 billion in 2012, whereas Sri Lanka’s garment exports to China during the same period increased from US$ 0.7 million to US$ 15 million, the statement said.
JAAF expressed delight that a number of Memorandums of Understanding (MoUs) have been signed between Sri Lanka and China to improve and strengthen bilateral economic relations, during the recent visit of President Mahinda Rajapaksa to Sri Lanka, the official news portal of Government of Sri Lanka reported.
Mr. Cooray said the vision of JAAF is to make Sri Lanka the apparel hub for Asia, as Sri Lanka has already transformed from being a supplier of basic products to total solution provider to clients.
He expressed optimism that Sri Lanka’s clothing exports to China could reach US$ 1 billion level in few years period.
In 2012, Sri Lanka’s overall exports to China stood at US$ 108 million, while the country imported US$ 2.568 billion worth of goods during the year.
Last year, Sri Lanka exported US$ 4 billion worth of textiles and apparel, with around 90 percent of it destined to the US and the EU countries.
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