No negative impact over GSP+ loss
FCCISL President welcoming the SAARC President
Sri Lanka has a major share of the global apparel niche market and
the loss of GSP plus concession would not have a major negative impact
for the country said the former President of the Bangladesh Apparel
Association and President SAARC Chamber of Commerce and Industry,
Speaking to 'Sunday Observer' he said that Sri Lanka has been
selected to produce exclusive brands and labels such as Victoria's
Secrets and many other such brands which are patronized by the high
society in Europe and UK.Commenting on the Bangladesh market he said
three million people are employed in this sector and bulk of their
exports are garment finished products. He said that their market is for
mass production and for them GSP plus concession was important.
Commenting on the SAARC region he said that though 23 percent of the
world land is occupied by the region, its still to unleash its full
potential. "Out of the world trade NAFA (American) EU and Asian region
excluding the SAARC account to nearly 90 percent of global trade," he
He attributed political differences of major South Asian countries as
the main stumbling block for the regions development.
"Many regional trade blocks in other continents are on the way of
total economic integration following the path of European Union.
Therefore SAARC countries need to move faster." "We are trying to
minimize politics in entrepreneurship so that regions trade can forge
ahead," he said. He said that the private sector in the region is
surging ahead and this is a major positive sign for the development in
the region. In Sri Lanka too the Federation of Chamber of Commerce and
Industry is playing a major role in talking to the government and
ironing out issue related to the private sector.
He stressed the importance of improving cross border physical
infrastructure and freedom of movement across borders through the
adoption of a flexible visa regime. "A common currency for the region
too is some thing that has to be considered," he said.President of
Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL)
Kosala Wicramanayake speaking at the "Roundup on 16th SAARC Summit, held
on Thursday at Cinnamon Grand, said that it was pleasing to that the
SAARC region is growing and getting stronger.
This conference was jointly organized by SAARC Chamber of Commerce &
Industry, Federation of Chamber of Commerce & Industry of Sri Lanka (FCCISL)
in partnership with Friedrich-Naumann-Stiftung die Freiheit.