FAAMA successfully concludes 17th Annual General Meeting

The Fabric and Apparel Accessory Manufacturer’s Association (FAAMA), a subsidiary association of the Joint Apparel Association Forum of Sri Lanka (JAAF), hosted its 17^th Annual General Meeting (AGM) 2024, at Jetwing Colombo Seven on the 29^th of the October 2024. The event was attended by Chief Guest, Mr. Doug Sonnek, the Deputy Chief of Mission, U.S. Embassy in Sri Lanka, and Guest of Honour Mr. Saif Jafferjee, Chairman of the JAAF Sri Lanka.

The AGM also was attended by representatives of JAAFmember associations including Mr. Yohan Lawrence, JAAFSL Secretary General, and other distinguished guests such as Mrs. Renuka M. Weerakoon, Director General of the Board of Investment (BOI) of Sri Lanka and P.B Hemantha Jayasinghe, Director General of Central Environmental Authority (CEA). 

Mr. Pubudu De Silva, the outgoing Chairman of FAAMA, addressed the attendees, highlighting the association’s progress over the past financial year ending 31^st March 2024. He highlighted several challenges faced by the textile and apparel industry due to uncertain global demand, brought about by geopolitical tensions and economic fluctuation. He explained that these challenges greatly impacted supply chains and costs of raw material. He went on to highlight that despite these challenges, Sri Lanka’s apparel sector was able to remain the largest contributor of the local economy.

Mr. De Silva also addressed FAAMA’s pivotal role in the apparel industry, emphasising the fact that the association is working closely with stakeholders and government toimplement favourable policies for the apparel industry. He further highlighted that the association would continue its focus on Corporate Social Responsibility (CSR) initiatives such as beach clean ups and ocean strainers. He mentioned that FAAMA hopes to strengthen its partnership with JAAFand further expand global demand for Sri Lankan apparel.

Thereafter, Guest of Honour, Mr. Saif Jafferjee, Chairman of JAAF, addressed the attendees. During his address, Mr. Jafferjee stated that the JAAF, in spite of the challenges, will continue to collaborate with FAAMA to strengthen the apparel industry.  He said the intention is to turn Sri Lanka’s apparel industry into an USD $8 Billion industry over the next two years.

Following this address, Chief Guest, Mr. Doug Sonnek, Deputy Chief of Mission, U.S. Embassy in Sri Lanka addressed the gathering, “ The United States is proud to be Sri Lanka’s top export market, with $2.8 billion in goodsexported to the U.S. in 2023. Organizations like FAAMA playa critical role in strengthening our bilateral economic relationship. By promoting good governance, supporting workers’ rights, and advancing environmental sustainability, FAAMA is not only driving the apparel industry forward but also contributing to Sri Lanka’s long-term economic resilience and growth. The United States looks forward to continuing our partnership to create opportunities and prosperity for both our nations.”

Mr. Samal Dissanaike was appointed as the new Chairman of FAAMA for 2024/2025. The new Board of Directors was also announced that evening. The following members were appointed to the Executive Committee, 

FAAMA’s 17^th Annual General Meeting came to a successful conclusion with the associations newly appointed Chairman of FAAMA, Mr. Samal Dissanayake delivering the vote of thanks to all attendees, the new Board of Directors, and Executive Committee. This was followed by an evening of cocktails and fellowship.