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| Sunday, 2 October 2005 |
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Business |  |
| News Business Features Editorial
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Lanka's apparel export earnings up 9% in 1H, 2005 by Elmo Leonard Sri Lanka's apparel export earnings for the first six months of 2005 was 9 percent over that of the corresponding six months of 2004 ($2.6 billion) in spite of the scrapping of the MFA end-December. A lot of innovation was needed to keep shipments going, chairman, Sri Lanka Apparel Exporters' Association (SLAEA) A. Sukumaran said. The duty free status for exports of garments with fabrics made in Sri Lanka or other SAARC countries to the EU nations also helped the island's export performance this year. Also, the reintroduction of quotas for China to export to the USA and EU, cut down China's exports to these destinations and assisted Sri Lanka's garment sales overseas, Sukumaran told the media. The post-MFA situation could see Sri Lanka's export performance to the EU benefit in the medium and long-term, the SLAEA chairman said. Answering questions, Sukumaran said that in the post-MFA scenario the weaker companies were amalgamating to keep alive or were being bought by the large companies. A shift was taking place, but he saw no overall loss of employment. Meanwhile, DHL, claimed the world's leading express and logistics company stepped into the fray to buttress Sri Lanka's apparel exports in a strategic tie-up with SLAEA, making it SLAEA's 'preferred logistics partner'. The agreement was inked by DHL Sri Lanka country manager Chaminda Hewamallika and chairman SLAEA A Sukumaran. DHL is 100 percent owned by Deutsche Post World Net with a revenue of Euro 24 billion in 2004. DHL is the global market leader of the international express and logistics industry, specialising in providing innovative and customised solutions from a single source. |
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