Colombo ? One of Sri Lanka?s
leading fabric manufacturers, which indirectly supplies knitwear to some of the
UK
high-street?s major retailers including Marks & Spencer, Next, BHS, Tesco
and Adams, is at risk from a possible loss of duty free access to key European
markets.
As a result, MGT Knitting, one of the country?s biggest fabric suppliers to major Sri Lankan apparel exporters - mainly cut, make and trim operations ? may find itself exposed to margin pressures on sales to the European Union in the event of the withdrawal of the Generalised System of Preferences Plus scheme.
