Sri Lanka’s exports to UK up 36% to £ 1.15 b in 2014

Monday, 9 March 2015 00:39 - - {{hitsCtrl.values.hits}}

Sri Lanka’s exports to UK in 2014 have grown by 36% to £ 1.158 billion confirming its position as the biggest market in Europe. British High Commissioner John Rankin welcomed this growth and noted the continuing strong opportunities for British companies in the Sri Lankan market.

“These latest figures demonstrate the strong demand from British buyers for high quality goods manufactured in Sri Lanka, notably in the apparel and clothing accessories sector. M&S, Next, George for Asda, and Tesco all operate sourcing offices in this country. Overall, there are over 100 UK companies successfully operating in Sri Lanka,” Rankin said. Trade and investment is a two-way relationship and I look forward to further growing British exports to this country. People in Sri Lanka share a strong affinity with high quality UK brands and there is continuing demand for top class British products, from food and drink to highly engineered equipment,” the High Commissioner added. UK retail brands have identified Sri Lanka as a strong supply partner, due to the country’s labour standards and the success of Sri Lankan apparel sector’s ‘Garments without guilt’ campaign which focused on ethically-made clothing i.e. free of child labour, sweatshop conditions and forced labour while ensuring sustainable manufacturing practices. Apparel and clothing accessories exports amounted to £865 million in 2014, a growth of 34%, while comprising 74% of total exports.Total UK exports to Sri Lanka in 2014 were valued at £165 million. Sri Lanka supplies to several UK retailers including M&S, Next, George for Asda, Matalan, Tesco, BHS, and Primark.Sri Lankan apparel manufacturers have also cemented the country’s position in sustainable garment manufacturing. The first eco-factory under M&S’s ‘Plan A’ strategy was constructed in Sri Lanka to produce eco-friendly lingerie including the world’s first carbon neutral bra.