At the association’s annual general meeting held recently, Sharad Amalean, Chairman, MAS and JAAF, called for intensive dialogue and greater stakeholder collaboration to resolve the current forex crisis. He also urged stakeholders to reform laws for a more sustainable medium-long-term trajectory for Sri Lankan apparel. Commending the resilience shown by the sector in the face of an unprecedented pandemic and outlined measures, Amalean said, the sector aims to achieve its exports target of $8 billion by 2025, while maintaining GSP+ and enhancing bilateral trade.

Last year Sri Lanka exported apparels worth $5 billion amidst various challenges. However, there are still many obstacles ahead, Amalean added. It is essential for all stakeholders to act with unity, and continue to engage in dialogue with authorities on issues pertaining to foreign exchange and the adoption of regulations that can ensure sustainable growth for our vital industry, he emphasized.

Amalean also emphasized on the need to enhance Sri Lanka’s bilateral trade by engaging with regional partners and associations to enhance trade relations. The securing of a GSP+ extension beyond 2023 will be absolutely critical for the growth of its industry, he added.

Outgoing chairman A Sukumaran, noted the industry is likely to face continuous supply chain disruptions over the coming year, making the need for continuous engagement across industry stakeholders an essential pre-requisite to developing long-term solutions to the industry’s current and future challenges. Metakeys: Sri Lanka, JAAF