Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Large number of garment factories closed in Sri Lanka due to loss of GSP+ - Union
Tue, Feb 19, 2013, 11:01 am SL Time, ColomboPage News Desk, Sri Lanka.

Feb 19, Colombo: Since the loss of European Union's tariff concession Generalized System of Preference Plus (GSP+) to Sri Lanka over 180 garment factories have closed their doors to employees, a union leader has said.

Anton Marcus, convener and the General Secretary of the Free Trade Zones and General Services Employees' Union (FTZ&GSEU) said that the loss of GSP + concessions has led to the recent closure of 186 garment factories.

He also pointed out that almost 217,000 workers have lost their jobs.

The trade union leader said that the island had 835 garment factories in 2000 and the number was reduced to 500 by 2004. The industry had employed million workers in 2000 but now it only employs 283,000.

However, the income from the garment industry had increased since less workers are working more to offset the decline.

He also admitted that the industry has changed the strategy and now focus on specialized high-end more expensive designer garments rather than the simple finished garments it exported earlier.

The European Union, citing Sri Lanka's failure to meet human rights conventions relevant for benefits under the scheme, in August 2010, suspended the GSP+ tariff concession for Sri Lanka that provided tax free access to European markets for the country's products, especially for garment exports.

** Related Story :: Sri Lanka considering to reapply for GSP - report



ColomboPage - Recent 10 Stories
Sri Lanka minister's son and six others granted bail
-- [4 hours ago]
Sri Lanka's ruling party national list MP resigns from parliament
-- [4 hours ago]
Sri Lanka Defense Secretary calls on nations to share intelligence to combat transnational crime
-- [4 hours ago]
Fitch assigns Sri Lanka's Singer's notes 'A-(lka)' final rating
-- [6 hours ago]
Unilever CEO arrives in Sri Lanka on a business visit
-- [6 hours ago]
Sri Lanka Cricket condoles tragic death of Australian batsman Phillip Hughes
Sri Lankan President holds discussions with leaders of SAARC countries
Sri Lanka's left parties to field candidates for the presidential electio
Fielding a common opposition candidate for Sri Lanka presidency is an unprecedented move of solidarity - UNP
Sri Lanka's Western Provincial Council rule firm despite rumors, says Chief Minister

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.