Apparel Online Bangladesh Magazine December Issue 2018 | Page 77

BEYOND BD
Sri Lanka posts five per cent surge in apparel
exports, thanks to the US and Europe
Sri Lanka registered a rise of over
five per cent in its apparel exports
during the first nine months
of 2018, primarily due to the
increase in demand in the US
and Europe markets, the
country’s biggest markets in
terms of exports.
According to the data issued by
Sri Lanka Apparel Exporters
Association, during the period
from January to September
this year, the exports clocked at
US $ 3.73 billion as compared
to US $ 3.55 billion in the same
period last year showcasing a
surge of 5.1 per cent.
Notably, its exports to the US
were registered at US $ 1.66
billion which was US $ 1.57
years; its exports which amounted
to US $ 2.98 billion back in 2013,
currently sit at US $ 3.73 billion.
Apparel and textiles account for
the majority of the country’s total
exports. The rapid growth in
the nation’s supply is due to the
continuous efforts put into product
innovation, designs, compliance
that match global standards along
with investment in creating green
garment factories in a bid to
enhance sustainability.
billion in the corresponding year,
marking a hike of 5.7 per cent
in numbers. On the other hand,
the exports to Europe were also
up by 4.6 per cent to US $ 1.58
billion. Reportedly, Sri Lanka has
witnessed a significant rise of
25.2 per cent during the last five
Additionally, in a bid to enhance
the country’s export, the Sri
Lankan Government recently
decided to cut VAT on
fabric imports to aid small-
scale exporters to boost
their businesses.
Pakistan gives high priority to value-added
textile export sector
The Pakistan Government is
giving high priority to the value-
added textile export industry.
Muhammad Zahid Khokhar,
Federal Board of Revenue
Member Customs, said this when
he recently visited Pakistan
Hosiery Manufacturers &
Exporters Association (PHMA).
During his visit to PHMA, Zahid
Khokhar met all the leading
exporters of Pakistan besides
meeting the office-bearers of
PHMA. He said that in order
to promote value addition and
exports, the regulatory duty on
the import of yarn and other
raw materials has been
significantly decreased.
Zahid Khokhar, however, added
that it was inappropriate to
reduce the regulatory duty
on 570 products to control the
import of products. He also said
that the regulatory duty has
been revised only on 90 items
whereas the same has been
increased on 100 luxury items.
Further, rebate will also be
paid with the export proceeds
electronically in order to
facilitate the exporters.
Zahid Khokhar said that the
Government of Pakistan was in
need of foreign exchange and
therefore textile exports held
so much relevance. Pakistan’s
textile exports constitute a
major portion of the country’s
overall exports.
Member Customs have urged to
simplify Duty & Tax Remission
for Exports (DTRE) and also
added that the process of
validating the licenses – for
export-oriented units and
manufacturing bonds – shall be
soon automated. Zahid Khokhar
further said that the audit will
also be done automatically by
the system.
Meanwhile, the Trade
Development Authority of
Pakistan, better known as TDAP,
has been urged to participate in
all fairs and exhibitions in UK to
promote Pakistan’s fast receding
apparel and textile exports.
The Economic and Trade
Division of Pakistan’s High
Commission in London, while
urging TDAP, commented in its
report that decline in Pakistan’s
textile exports was chiefly
instrumental in the decline of
overall exports of the country.
It also said that the non-knitted
apparels and home textiles were
the categories that saw huge
decline in their exports. The
report also mentioned about the
existence of a huge market in
UK for knitted and non-knitted
apparels, which was presently
being utilised by garment
exporters of Bangladesh.
It is worth noting that the market
for knitted and non-knitted
apparels in UK is together
worth nearly £ 13 billion, with
Bangladesh constituting 19
per cent of total market share.
Pakistan, in sharp contrast,
constitutes a dismal 4 per cent.
TDAP has also been asked to
participate in MODA, which is
UK’s leading fashion trade show.
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