Key WB report ‘Stitches to Riches’ to debut at top JAAF Forum tomorrow

South Asia is in the midst of a demographic transition. For the next three decades, the growth of the region’s working age population will far outpace the growth of dependents, a World Bank report has stated in its latest findings. 

This and many more significant insights into South Asia’s “burgeoning” labour market have been revealed in a report which will be launched on 26 April.

The report entitled ‘Stitches to Riches’, which focuses on apparel employment, trade and economic development in South Asia will be launched at 2.00 p.m, in partnership with the Joint Apparel Association Forum (JAAF) at the auditorium of the Institute of Policy Studies, 100/20 Independence Avenue Colombo 07.

The report highlights among others the greater potential the local apparel industry could benefit with the right mix of skills, infrastructure and location which could position Sri Lanka as a regional apparel and textile trade hub in the not-so-distant future.

The World Bank in its findings has highlighted the strengths of other regional players such as India, Bangladesh and Pakistan. It has noted South Asia’s potential to expand apparel exports to the world’s markets.

The report will be formally launched by Dr. Gladys Lopez-Acevedo, lead economist of the World Bank at the Chief Economic Office of the South Asian Region, in the presence of Roland Pryce, advisor to the World Bawnk Office in Colombo and several other distinguished representatives from the public sector - including Deputy Governor of the Central Bank Dr. Nandalal Weerasinghe - and from the apparel and business communities.

Professor of Economics at the Faculty of Arts of the University of Colombo, Dr. Sirimal Abeyratne, will speak on economic potential.

The presentation will be followed by a panel discussion on ‘Apparel Job Creation and Development in Sri Lanka’. The discussion will focus on several important issues connected with the growth of the apparel industry in the context of the country’s economic policy and future plans.

The expert team that will examine these matters includes Dr. Nandalal Weerasinghe, Brandix Lanka Ltd. Group CEO Ashroff Omar, Senior Analyst and Head of Economics at Verite Research Subashini Abeysinghe and Senior Director Indian Subcontinent, Middle East and Africa at PVH Dilhara Perera, with Daily FT Editor Nisthar Cassim functioning as moderator.