Baigou City in Hebei Province is known as the “Luggage Capital” and is regarded as the center of China’s leather industry, especially leather bags and wallets, but not the shoe industry.
Sri Lanka is currently looking for ways to attract foreign investment. The Sri Lankan Ambassador to China launched a program in Baigou City aimed at promoting Sri Lanka’s leather industry.
One of the very attractive conditions provided by Sri Lanka is the EU GSP+. The EU GSP+ allows Sri Lankan products to enter the EU at zero tariff. At the same time, the EU also imposed an anti-dumping tax of 19.4% on Chinese products.
Sri Lanka announced that it will allow the import of machinery and raw materials used to produce leather products at zero tariff. Sri Lanka has signed free trade agreements with two neighboring markets, namely India and Pakistan.
