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“Apparel sector dip should reverse at year’s end”

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Sri Lankan apparel sector is currently facing a dip and this should turn around by the end of the year, said World India Exhibition and Promotion Pvt. Ltd, (WORLDEX) Executive Director Arti Bhagat.

She said that this is not something only Sri Lanka faces but is a global phenomenon resulting from the Ukraine-Russia war and global recession in some European countries. “Bangladesh too is facing a similar issue.” Bhagat however said that they see a positive towards this negative faction towards the end of the year and envisaging this they will be hosting their mega Sri Lanka Apparel Sourcing exhibition INTEX South Asia in Sri Lanka in BMICH on August 10, 11 and 12 this year after a lapse of several years.”

She said that both Bangladesh and Sri Lanka felt this crisis due to them not having a sizable domestic market, unlike India. Bangladesh’s apparel exports are around USD 45 billion while India’s exports are half of it. She said that their company saw a huge rise in the Sri Lanka apparel industry and started their first exhibition in Sri Lanka in 2015 and then hosted the event regularly in Bangladesh and India. “We have currently held five INTEX exhibitions in Sri Lanka, three in Bangladesh and two in India.”

“We still see a raw material issue for the Sri Lankan apparel sector and through our exhibition we meet global suppliers with local manufacturers. Already over 100 companies from the USA, UK, China, Hong Kong, Taiwan, India, Indonesia, Pakistan and Sri Lanka will participate.”

The exhibition is also supported by Apparel related associations and Ministries. In addition, this year some of the companies will also bring modern technology used in the apparel sector to be deployed in Sri Lanka.“With our excellent mix of international and regional exhibitors, Intex South Asia is the perfect platform for textile and apparel SMEs keen to do business internationally. The Expo will create powerful opportunities to increase exports of textile and clothing products to EU and non-EU markets. We will also host several technical seminars related to the apparel sector during the event.”

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