Sri Lankan leather production rises - leatherbiz: Leading news site fo Leatherbiz

News

Sri Lankan leather production rises

21/11/2006

Sri Lanka’s production of leather goods has risen 6% over the last year, in line with the country’s manufacturing sector as a whole.

However, despite the positive improvement in the leather goods sector, the country’s leather sector is continuing to struggle. In the period January to August exports fell 6.59% to $25.34 million, compared with $27.13 million in the corresponding period last year.

In a bid to boost the  leather sector and related industries, Sri Lanka’s president and finance minister, Mahinda Rajapaksa, has announced that all material imported for processing and manufacturing leather and leather products will be exempt from import duty and VAT. Further measures will include addressing issues such as under-invoicing on imports; increasing research and development in the industry; and implementing special loan facilities for leather factories.

 



Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.