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Sri Lanka apparel manufactures ready to face loss of GSP+
Wed, Apr 7, 2010, 08:12 pm SL Time, ColomboPage News Desk, Sri Lanka.
Apr 07, Colombo: Sri Lankan apparel manufacturers are confident that the loss of the European Union's GSP+ tax concession would not affect their industry, a top executive in the industry said.
Addressing the media Chairman of Tri-Star Apparel Dr. Kumar Dewapura, said the local clothes manufacturing industry is geared to face the possible outcome, if the GSP+ is withdrawn.
"The GSP+ tax concession is not a facility that is provided to them, but to apparel exporters to the European Union countries. Therefore, if they withdraw the GSP+ then they will have to negotiate terms with foreign importers and agree upon a reasonable price," Dewapura said.
The industry is taking initiatives to reduce their manufacturing capacity and to reduce wastage, he added.
The European Union citing Sri Lanka's alleged human rights violations has decided to suspend the GSP+ tariff concession in February. The EU has given six months to allow the manufacturers and traders to adjust to the new rules and to Sri Lankan government a fair opportunity to get the decision reversed.
Meanwhile, Tri-Star Apparels is all set to reopen their factory at Polpithigama. The factory once opened will provide 291 jobs to members of war veterans' families.
Tri-Star Apparels is one of the few companies that have already begun to expand to the North and East. With their factory in Trincomalee that employs over 1,000 workers, they have begun to help the economy in the area to improve.
The Tri-star Apparel Group is one of Sri Lanka's largest exporters of clothing to Europe and the USA. Retail giants Wal-Mart, Target, Abercombie-Fitch and Gap are among its customers in the US.
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