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Sri Lanka eyes US $ 8 BN in garment exports

After surpassing US $ 5 billion in export earnings in 2018, Sri Lanka’s apparel sector targets US $ 8 billion by 2025.

Apparel export in 2018 registered an increase of 4.79 percent compared to US $ 4,819 million in 2017, as per Joint Apparel Association Forum (JAAF). The United States and the European Union continued to be the biggest importers of Sri Lankan garments.

However, it is being said that Sri Lankan garment export industry needs an annual growth of 6 percent each year till 2025 to reach US $ 8 billion.

Additionally, market access pacts such as regional, multilateral, or bilateral trade arrangements will be required with India, China and Brazil, an official statement stated.

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