Sri Lanka to achieve apparel export target of US$10bn by 2016

Sri Lanka is heading towards achieving the apparel export target of US$ 10 billion by 2016, set by President Mahinda Rajapaksa, Minister of Industry and Commerce Rishad Bathiudeen said.

 

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Speaking at an event at the Sri Lanka Institute of Textile and Apparel (SLITA) in Ratmalana, the Minister said the country’s apparel sector has showed strong performance earning revenues of $4.3 billion in 2013, and Sri Lanka is now heading for bigger apparel dreams. President Mahinda Rajapaksa now wants us to be among the world’s top 10 apparel export countries by 2020.

 

 The Minister while stating that In 2013 Sri Lanka's apparel sector entered the G4 manufacturing levels for the first time in partnership with a global multinational, the PVH Corporation and commended the commitment made by apparel sector to lead the country's exports performance.  The Minister also thanked the Treasury for the assistance rendered to upgrade apparel training facilities.

 

The Central Bank data shows that Textiles and garment exports from Sri Lanka grew by 23.4 percent to $ 412 million in January 2014, compared to exports of $333.9 million made during the same month in year 2013.