Sri Lanka

Sri Lanka’s garment sector could greatly benefit from the ongoing exodus of manufacturing from China, according to a leading international economist. Speaking at the recent Sri Lanka Economic Forum, University of Warwick professor Christopher Woodruff said that many apparel companies are seeking alternatives to China as their cost of doing business increases, and while Sri Lanka does not offer the same cost competitiveness as other nearby countries like Bangladesh and the nations of Southeast Asia, the country’s emphasis on compliance and quality could make up for this demand. Sri Lanka hopes to acehive US$10 billion in garment exports by 2025. (Fibre2Fashion)