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NEWS: Free trade agreements can benefit Senegal-Sri Lanka trade, says Ambassador

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Senegal, 20 January 2012: The West African country of Senegal has urged apparel exporters from Sri Lanka to set up their production base in the country.

During his meeting with Sri Lanka’s Minister of Industry and Commerce Rishad Bathiudeen, Senegal’s newly appointed Ambassador of Senegal to Sri Lanka, Amadou Moustapha, said Sri Lankan apparel exporters can benefit from duty-free trade agreements and the availability of cheap labour in Senegal.

Sri Lankan apparel companies can benefit from Senegal’s preferential access deals to widen their market share in the EU and North American markets, he said.

Senegal is part of several preferential access agreements like the US’s African Growth & Opportunity Act (AGOA), the EU-ACP and the West African Economic and Monetary Union.

The EU-ACP applies to African, Caribbean and Pacific States, while the AGOA offers duty-free access to the US for products that are made up of either sub-Saharan African or the US produced fabric or yarn.

The low labour wages, which is often less than US$ 200 per month, would give advantage to manufacturers setting up their production units in Senegal, the country’s Ambassador said.

He added that the apparel exporters can utilize their base in Senegal for access to North African markets as well as to perform back-end operations.

Stressing on his point, the Ambassador said Sri Lankan apparel companies can use Senegal’s proximity to North American markets for timely shipping and delivery of their goods.
 

- Fibre2Fashion Newsdesk India
 


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