Leather industry has much potential - Prof. Peiris

The leather industry which has the potential similar to the apparel sector should take a leaf from the strides that the apparel industry has made over the years and focus on niche products that will be ideal for the European and US markets, said Minister of Export Development and International Trade Prof. G.L. Peiris.

He was addressing the media on the significance of the footwear and leather goods exhibition to be held from November 24-26 at the BMICH.

Prof. Peiris said the leather industry has the potential to be a major exporter to the European market and a key industry in the region attracting investors.

"The leather industry should exploit the country's strategic location, good labour practices, recognition in the international markets and trade concessions from the EU to maximise profits and expand its market penetration", he said.

Sri Lanka's footwear industry with over 20,000 people employed directly and over 3,000 small scale manufacturers is one of the main contributors to the economy.

The footwear industry has a wide range of modern shoes such as canvas and rubber boots, thongs, sports shoes and leather shoes which are produced using a variety of raw materials.

The country's annual production capacity ranges from 20-30 million pairs.

The government granted duty free concessions to import raw materials, machinery and equipment for the industry and also increased the cess on imported shoes to safeguard local manufacturers.

The objective of the footwear and leather goods exhibition is to create awareness of the potential of the industry and provide a common platform for manufacturers, financial institutions, buying houses and packaging and printing companies to exploit the potential of the industry.

The footwear and leather goods exhibition is organised by the Export Development Board (EDB) in collaboration with the Ministry of Industrial Development and the Sri Lanka Footwear Association.

LF