Page 16 - May-June-2019

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PRGMEA stresses

on making value

added textile industry

competitive

Mr Ijaz A. Khokhar, Chief Coordinator PRGMEA has appealed to the govt. to take initiatives to make the value
added textile industry globally competitive and vibrant. He said that the govt. should give focused attention on
sector wise establishment of regional, provincial and central level task force. As a result, the govt. will be aware
of the ground realities of each industry.

He said the task force will help the govt. in formulation of future policies which will bring result oriented
changes in export sector of the country. He also suggested the govt. to explore nonconventional international
markets to boost the exports of the country.

Textile industry value added garments sector has been showing considerable growth despite the challenges.
The sector, he said, has a huge growth potential. He also stressed to focus on the youth entrepreneurs of the
country to strengthen the national exchequer.

He suggested that a special committee of concerned associations should be constituted for CPEC to take
care of the local industry and investor to reap the benefits of CPEC. He also urged the Chinese govt. to simplify
visa process for the business community.

Sri Lanka awaits EU’s approval

for GSP+ concessions

Final papers have been submitted to EU by Sri Mr Nimal Karunathilake- Acting Additional Director
Lanka. The papers are signed by both govt. of General of the Department of Commerce said that
Indonesia and Sri Lanka. This is to buy fabric from despite the GSP+ utilization rate being relatively low
Indonesia and secure a complete duty wavier at 55pc, the country cannot rely on EU, UK or USA
exporting to the EU under the GSP+ concessions. export markets only. According to him, Chinese and
After the virtual acceptance of the submission, Sri Indian industries will also play a major role in global trade
Lanka is now waiting for EU’s approval. in years to come. He said that by 2030, China will
overcome USA as the largest economy in the world.
Another joint submission to the EU is on the final He said that Sri Lanka needs to explore new
stage by South Korea and Sri Lanka to purchase opportunities and needs to sign an FTA with China
fabric from Korea. in the near future.

May/June 2019