Sri Lanka expects to have a Government to Government discussion with Turkey on their increase of import duties on apparel exports from Sri Lanka.
The Turkish Government is in the process of increasing import duties on garments and fabrics imported to the country to protect local industrialists, quoting the Consul General of Turkey in Sri Lanka Bharathi Wijeratne Daily News reported.
This will impact on apparel exporters to Turkey such as Bangladesh, Pakistan, India and Sri Lanka.
This will result in Turkish import tax on garments from Sri Lanka increasing from 9.6 percent to 52 percent and on fabrics from 6.4 percent to 35 percent.
According to the report, the total apparel exports to Turkey from Sri Lanka accounted for US $ 70 to 80 million annually and the Turkish market has a huge growth potential in the near future.
Even after the withdrawal of GSP+ concessions, Turkish buyers still select Sri Lanka as their preferred apparel sourcing country due to the quality and the reliability of the Sri Lankan apparel manufacturers, the report added.