By: Staff Writer
February 18, Colombo (LNW): Sri Lanka’s apparel sector has a significant opportunity to expand its presence in the United States, not only as a strategic business move but also as a means of strengthening its global competitiveness. The industry, which is a major contributor to Sri Lanka’s economy and a key foreign currency earner, stands to benefit from closer ties with the U.S. market.
This call to action was highlighted by U.S. Ambassador to Sri Lanka, Julie Chung, at the Sri Lanka Apparel Exporters Association Annual General Meeting in Colombo. She emphasized that apparel manufacturers are a crucial pillar of the country’s economic foundation and must navigate both challenges and opportunities in an evolving global landscape.
The ambassador reinforced the United States’ commitment to fostering business ties and investment. She pointed out that the U.S. apparel manufacturing sector is dynamic and continues to expand, with projected revenues of $365 billion by 2025 and employment for 83,000 people. With its advanced technology, skilled workforce, and strong infrastructure, the U.S. provides a lucrative market that can enhance the capabilities of Sri Lankan apparel businesses.
By establishing operations in the U.S., Sri Lankan apparel companies could benefit from reduced shipping times, lower tariffs, and improved market responsiveness. Ambassador Chung noted that the apparel industry is driven by innovation, adaptability, and creativity—qualities essential for success in the global economy. She cited the success story of Nike, which began as a small-scale operation in 1964 and has since grown into a $100 billion company with a global workforce.
Another notable example is Martin Trust, an American entrepreneur who played a pivotal role in transforming Sri Lanka’s apparel sector in the 1980s by introducing advanced U.S. manufacturing techniques.
Trust was instrumental in the growth of MAS Holdings, which has since expanded its operations back into the U.S. with a cutting-edge design and delivery hub in North Carolina.
This facility not only provides high-quality jobs but also supports research and innovation in apparel materials and technology.
The success stories of companies like Nike and MAS Holdings demonstrate that innovation, resilience, and vision are key drivers of global success. Sri Lanka’s apparel industry, from large-scale manufacturers to local entrepreneurs, continues to shape the future of the global market.
As Sri Lanka’s new government formulates its trade and investment strategies, the U.S. remains encouraged by its emphasis on transparency, good governance, and fostering a business-friendly environment.
Ambassador Chung underscored the importance of maintaining fair competition, honoring contracts, and streamlining regulations to attract foreign investment.
Looking ahead, Sri Lanka’s commitment to quality manufacturing and ethical business practices can help it remain a leader in the global apparel industry. The U.S. reaffirms its partnership in supporting Sri Lanka’s journey toward economic growth and long-term prosperity.
