JAAF Welcomes Govt Strategy to Secure Long-Term EU GSP+ Access š
ā¢ Overall Sector Performance: Apparel & textiles crossed US$ 5 Bn in exports in 2025, maintaining its role as Sri Lanka's largest export earner. Generates over 50% of industrial exports and ~32% of total national export earnings (US$ 17.25 Bn in 2025). ā¢ Market & Trade Breakdown: The EU absorbs 24% of total merchandise exports from Sri Lanka. Joint Apparel Association Forum (JAAF) praised the dual strategy: applying under the EU's new 10-year GSP+ framework while exploring long-term alternative market arrangements. ā¢ Strategic & Economic Impact: Securing GSP+ tariff concessions safeguards competitiveness, investor confidence, and hundreds of thousands of manufacturing jobs. Compliance efforts focus on maintaining global standards in labor practices, environmental stewardship, and governance.