According to the data revealed by Central Bank, the textile and apparel exports from Sri Lanka dropped by around 2.2 per cent to US $ 4.82 billion in 2015. The country’s overall exports plunged 5.6 per cent from a year earlier to US $ 10,504 million and imports dipped 2.5 per cent to US $ 18.9 billion, with the trade gap rising marginally to US $ 8,430 million.
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Sri Lanka also witness drop in textile exports to one of its important markets – Thailand to US $ 54 million in 2014. To improve its export figures in the coming years, the country is planning to strengthen its business tie-ups with Thailand.
As reported by a leading Sri Lankan daily, a delegation from Thailand, led by the Deputy Prime Minister of Thailand Dr. Somkid Jatusripitak, arrived in Sri Lanka recently to promote business investments in both the countries. Dr. Jatusripitak said at an event that Thailand sees Sri Lanka as an important trading partner where several cargo ships pass through the Indian Ocean to the Middle Eastern and the European Union.
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Commenting on trade relations with Thailand, State Minister of International Trade Sujeewa Senasinghe, said, “Our target is to achieve US $ 1.5 billion trade with Thailand following the setting up of a one stop shop with the Board of Investment of Sri Lanka.”
