Business
‘Securing GSP+ extension beyond 2023 absolutely critical for apparel industry growth’
Deputy Chairman of MAS Sharad Amalean appointed JAAF chairman
The Joint Apparel Association Forum of Sri Lanka (JAAF) called for intensive dialogue and greater stakeholder collaboration in order to arrive to resolve the current forex crisis, as well as legislative reform towards a more sustainable medium-long-term trajectory for Sri Lankan apparel.
These views were expressed at the recent Annual General Meeting (AGM) of the Association, the apex body representing five associations encompassing supply chain partners, the export-oriented apparel manufacturers, buying offices and representatives of international brands in Sri Lanka.
Addressing the gathering, newly appointed Chairman of JAAF and Deputy Chairman of MAS, Sharad Amalean commended the resilience demonstrated by the sector in the face of an unprecedented pandemic and outlined measures necessary for the sector to achieve its target of US$ 8 Bn in exports by 2025, while maintaining GSP+ and enhancing bilateral trade.
“Once again, Sri Lankan apparel has delivered an outstanding performance, achieving over US$ 5 Bn in exports last year amidst various challenges. While highly commendable, there are still many obstacles ahead of us. In order to successfully navigate these uncertain times, it is essential that all stakeholders act with unity, and continue to engage in dialogue with authorities on issues pertaining to foreign exchange and the adoption of regulations that can ensure sustainable growth for our vital industry,” Amalean stressed.
“We must also continue to enhance our bilateral trade by engaging with regional partners and associations to enhance trade relations. The securing of a GSP+ extension beyond 2023 will be absolutely critical for the growth of our industry,” he added.
Meanwhile, outgoing JAAF Chairman, A. Sukumaran noted that the industry would likely face continuing disruptions to their supply chain over the coming year, making the need for continuous engagement across industry stakeholders an essential pre-requisite to developing long-term solutions to the industry’s current and future challenges.
“The pandemic exposed underlying vulnerabilities in our extended global supply chains. However, we do not believe that right answer is to simply turn our backs to internationalization and build overlapping national supply chains – as had been advocated by certain quarters. Even with the current issues we face, the theory of comparative advantage within globalization is still a more financially viable approach. However, we also need to identify select areas in which development of domestic capacity can support Sri Lankan firms to effectively compete on a global stage, and ensure that such capacity development is expedited as much as possible.”
“Investing in less transactional and more collaborative supply chain relations will provide major solutions. This forges more resilient supply chains that are also more capable of dealing with our industry’s numerous challenges. We have thrived with our buyers on long-lasting relationships. We must do the same thing with supply chains as well. Balance strategies are a must for us to sustain ourselves on the sourcing map,” Sukumaran added.
The AGM saw the appointment of JAAF’s new executive committee for 2022/2023, which includes Chairman Sharad Amalean, Deputy Chairmen Saiffudeen Jafferjee and Felix Fernando, Past Chairmen Noel Priyathilake, Azeem Ismail and Ashroff Omar. Duly Authorized Representatives of the constituent bodies: Fabric & Apparel Accessory Manufacturers Association Pubudu de Silva, Free Trade Zone Manufacturers Association – Jatinder Biala, Sri Lanka Apparel Exporters Association – Aroon Hirdaramani, Sri Lanka Chamber of Garment Exporters – Hemantha Perera and Sri Lanka Apparel Sourcing Association – Wilhelm Elias.
Other key appointments include individual members of the executive committee; Mahesh Hirdaramani, Manik Santiapillai, Ajith Wijesekera, Jafar Sattar, Anis Sattar, Rehan Lakhany and Mahika Weerakoon.
Meanwhile, Founding Secretary-General of JAAF Tuli Cooray stepped down from his position and will serve as a consultant moving forward. He will be replaced by Industry veteran Yohan Lawrence, Past Chairman of the Sri Lanka Apparel Exporters Association.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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