Next quits Sri Lanka, exports to EU fall - report
Jul 5, 2010 2:04:44 AM - thecolombotimes.com
The British clothing retailer, Next, has stopped sourcing its garments from Sri Lanka because of the uncertainty of the continuance of the GSP+ duty concession from the European Union.The company has moved production to Bangladesh, an industry source said.. Meanwhile, exports to the EU fell 13% in the first quarter of 2010, a decline the Sri Lankan garment industry attributes to falling demand due to the economic conditions there. Garments are Sri Lanka’s largest foreign exchange earner.