To reap the full benefits of the Generalised Scheme of Preferences Plus (GSP+), Sri Lanka’s clothing sector must swiftly enhance the value addition to its exports to the European Union (EU) from 52 percent to 65 percent. Vertical integration in Sri Lanka’s garment sector is one of the quickest methods to do this, according to Hemantha Perera, Secretary General of the Sri Lanka Chamber of Garment Exporters (SLCGE).
Sri Lanka’s apparel industry could benefit from greater utilisation of GSP+ concessions to the European Union (EU), according to former Sri Lankan Ambassador and Permanent Representative to the World Trade Organisation (WTO) Dr. Dayaratna Silva. Speaking at a high-level forum in Colombo last week, Dr. Perera highlighted the need for Sri Lanka to increase value addition into apparel through local production.
Sri Lanka’s textile industry could benefit from greater utilisation of the EU’s GSP+ concessions, according to EDB Chairman Dr Rajesh Perera. Certain fabrics used for apparel production are currently being imported from regions that disqualify the manufactured product for tariff reductions under GSP+. He noted that this disqualification could be resolved via local production of such inputs. “We need to do our best to retain the existing concessions to our exporters,” he emphasised.
Post time: Sep-03-2021