By: Staff Writer
November 11, Colombo (LNW): The Joint Apparel Association Forum (JAAF), representing Sri Lanka’s largest industrial export sector, yesterday commended the 2026 Budget for its strong focus on export-led growth, investment facilitation, and macroeconomic stability, while urging the Government to ensure consistent and transparent implementation of announced reforms.
In a statement, JAAF welcomed the Government’s renewed commitment to strengthening the external sector and rebuilding investor confidence, describing the Budget’s direction as a “positive signal” for the country’s economic recovery. The industry body noted that while the proposals outlined promising initiatives to enhance competitiveness, long-term success would depend on sustained execution and policy coherence.
The apparel industry accounting for the bulk of Sri Lanka’s manufacturing exports—viewed the Budget’s focus on digitalisation, trade facilitation, and capital allowances as particularly beneficial. These measures, JAAF said, could help attract fresh foreign investment, improve efficiency, and position Sri Lanka more competitively within global value chains.
Among the most welcomed reforms were the planned restructuring of the Department of Inland Revenue, the introduction of the next phase of the Revenue Administration Management Information System (RAMIS 3.0), and the rollout of e-invoicing. The industry has been advocating these changes to streamline tax administration, improve compliance, and reduce inefficiencies as the country transitions away from the long-standing Simplified Value Added Tax (SVAT) system.
JAAF Secretary General Yohan Lawrence cautioned that the positive intentions of the 2026 Budget must be matched by steady and predictable implementation. “The Budget demonstrates encouraging intent to build a stronger export economy, but consistency and clarity in policy execution are what ultimately drive confidence,” he said.
“The apparel sector operates in an intensely competitive global environment where even minor disruptions can have a ripple effect across thousands of jobs and livelihoods. We urge the authorities to maintain open and continuous dialogue with the private sector to ensure that reforms are implemented with minimal friction.”
JAAF also stressed the need for policy alignment with global sustainability and market access standards, especially under key preferential trade arrangements. It highlighted that stable and affordable energy costs, a clear pathway for renewable energy adoption, and improved logistics infrastructure were essential for sustaining export growth.
Reiterating its readiness to collaborate with the Government, JAAF called for a unified national export strategy that integrates the interests of large industries, small and medium enterprises, and the broader workforce. Such a coordinated approach, the association emphasized, would strengthen Sri Lanka’s competitiveness and accelerate its path toward a resilient and inclusive economic recovery.
