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Saturday, July 13, 2024

Sri Lanka to pursue Global Textiles and Apparel Program with Switzerland

Sri Lanka might be an insignificant player in textiles compared with India, Pakistan and Bangladesh but it has the distinction of exporting high value added apparel in the world. Its government has now decided to scale up exports through new agreements.

The Sri Lankan cabinet granted the approval to sign the proposed agreement on the Global Textiles and Apparel Program between the Sri Lanka Export Development Board (EDB) and the Swiss State Secretariat for Economic Affairs.

According to the government sources it was proposed to enter into a project agreement between the Swiss State Secretariat for Economic Affairs and the EDB for the implementation of the second phase of the Global Textile and Apparel Program for the Textile and Apparel Industry Sector in Sri Lanka.

By entering into the agreement, Sri Lanka will be able to seek the support of the Global Textiles and Apparels Program for a transformation of the textile and apparel industry based on the task of moving towards quality green products by promoting digitization.

Accordingly, the Cabinet approved the proposal presented by the President, in his capacity as Minister of Investment Promotion, to sign the said agreement.

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