Business

SL apparel industry eyes robust export sector in budget 2018

14 November 2017 - 214   - 0


The apparel industry gratified by the 2018 budget is hopeful for a robust export oriented Sri Lanka going by the proposals and measures adopted.
The Joint Apparel Association Forum (JAAF) in media statement on Tuesday said it was commendable that globalization and liberalization agendas were adopted and identifying the need to provide opportunities for businesses to thrive as opposed to governments getting into business themselves.
It was noted that all bottlenecks hindering growth were looked at seriously with measures adopted to update archaic laws and regulations to the modern day demands.
Some of key laws focused on by the apparel industry favourably were the customs ordinance that they believed should act as a facilitator than a regulator in the national interest.
Another area was the establishment of a new exchange management law and the new Inland Revenue laws.
Moreover, JAAF commended the state’s interest in looking at certain labour laws that were not in the interest of the workforce and particularly the option of adopting flexible working hours and the five-day work week that would prove favourable for workers and help the industry as well.
In addition, the apparel industry pointed out that the government’s objective of looking at the land and rent Acts were welcome since they were considered requirements that should be introduced for creating more private entrepreneurship.
In terms of trade liberalization it was noted that this was something mooted by the industry for some time and pointed out that in line with the budget proposal going forward the forte of the government would be to protect the internationally tradable goods. In other words this would mean offering export support systems that would have a slight penetration into the export market or those that have the potential to enter the export market, JAAF stated.
Understanding the importance of e-commerce, something that had been proposed by the industry for over a decade has come into fruition with the relevant agencies now expected to come up with a process for e-commerce transaction from January.
Another key factor in the budget this year was the identification of the relevant agency for each proposal, the apparel sector noted. (Sunimalee)

 

  Comments - 0

  • Leave a comment

Top Stories

Court summons PTL Chairman Geoffrey Aloysius

The Colombo Fort Magistrate today issued summons on Chairman of Perpetual Treasuries Limited (PTL) Geoffrey Aloysius to be present in court on July...

21 June 2018 - Views : 41

Leopard killed after attack on villagers in Kilinochchi

21 June 2018

US assures continued support for SL to fulfill commitments under UN resolution

21 June 2018

Postal strike continues

21 June 2018



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">

 

Features & Analysis

In pictures: Dialog 4G- The Sunday Times Schoolboy Cricketer Awards

The Sunday Times - Dialog 4G Schoolboy cricketer awards 2018 were held last evening. The break down of the re...

At a glance: Different Voices

 ‘The Voice’ headed by Ishan De Lanerolle recently staged the second edition of their concert &lsquo...

Hindi courses for children and adults

Swami Vivekananda Cultural Centre (Indian Cultural Centre) is announcing admission to new session of Hindi cours...

Get ready for the Big Bad Wolf Book sale this month

The Big Bad Wolf (BBW) book sale has made its return early this year, following the highly enthusiastic response from...



style="display:inline-block;width:300px;height:250px"
data-ad-client="ca-pub-6200193111498313"
data-ad-slot="1999573490">