Sri Lanka’s well-established apparel sector can flourish if it improves access to markets by signing well-negotiated preferential trade agreements. It is important for manufacturers to become relevant to customers, said Sharad Amalean, Deputy Chairman, Joint Apparel Association Forum Sri Lanka (JAAFSL) at an online forum hosted by CMA on the future challenges faced by Sri Lanka to drive exports.

Sri Lanka too should look at firming up the proposed FTAs, especially with China, said Amalean. It is imperative to acknowledge the benefits Sri Lanka reaped from the GSP Plus which allowed the local export sector to have improved access to the EU market, he added. Sri Lanka has inked FTAs with India, Pakistan, and Singapore, and is currently negotiating an FTA with the People’s Republic of China.

The FTAs with India and Pakistan cover only trade in goods, whereas the FTA with Singapore covers investment, goods, services, trade facilitation, government procurement, telecommunications, e-commerce, and dispute settlement. Sri Lanka is a member of the South Asian Free Trade Area (SAFTA) and the Asia-Pacific Trade Agreement (APTA).