Sri Lankan Footwear Manufacturers Industry Eyes on European Market

Sri Lanka is aiming to develop its footwear manufacturing industry of capturing European markets. However, according to the Sri Lanka Footwear Manufacturers' Association, the heavy taxes on imported raw materials could hinder the development of footwear industry.

According to the Minister Kumar Welgama, the Sri Lankan Ministry of Industrial Development is setting up 50 factories for manufacturing shoes for the European market.

A thousand factories will be set up to provide services to the large scale manufacturers. Through this project, Kumar Welgama expects to create thousands of employment opportunities.

The Sri Lanka Footwear Manufacturers' Association urges the government in providing concessions to the local shoe industry. It is said that the taxes on imported raw materials are higher than on imported shoes.

Source: http://www.Shoemap.com

Date: 18 Sept, 2006