- Created on Wednesday, 02 January 2013 10:54
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Sri Lanka Export Development Board has drawn up a five year strategic plan to facilitate investments in modern technology for fabric production and textile processing and Human Resource Development by granting initial period of protection for domestic purchases of products of right quality and price.
This measure will enhance textile manufacturing and processing sector to reach a target of 30 million metres (10 million kgs) and to bring in new areas of technical textiles to reach an export target of 1 billion U.S.Dollars.
The new plan will facilitate investments in modern technology for fabric production and textile processing to reach a target production of 35 % of imports and to establish dedicated zones for effective clustering of processing particularly for water treatment plants and weaving plants.
The EDB officials said that the government counterpart funding will be granted for the development of professional competencies in the sector while facilitating independent laboratories with ISO 17025 accreditation and strengthening existing facilities in government sector.
Through these initiatives it is planned to facilitate the textile industry to play a significant role in supplying raw materials to the apparel industry and to cater the local demand, and thereby reduce textile imports for the apparel sector. (niz).