UK Trade Envoy discusses boosting Sri Lanka exports via zero‑tariff scheme
Newswire: UK Trade Envoy Lord Hannett of Everton and British High Commissioner Andrew Patrick met with Sri Lanka’s Minister of Industry and Entrepreneurship Development, Sunil Handunneththi, to explore practical measures aimed at strengthening bilateral trade ties.
According to the British High Commission in Colombo, discussions focused on making stronger use of opportunities provided by zero‑tariff access for Sri Lankan exports under the UK’s Developing Countries Trading Scheme (DCTS).
The talks also emphasised the importance of creating a transparent and predictable business environment to boost investor confidence and foster long‑term economic partnerships.
OSL take:
Sri Lanka’s efforts to deepen trade relations with existing partners while expanding economic ties with new markets are creating significant opportunities for foreign businesses/investors. The enhanced engagement with the UK, including the benefits available under the UK’s DCTS, has strengthened Sri Lanka’s export competitiveness by providing zero-tariff access for a wide range of products. These trade concessions have helped boost key export sectors such as apparel, agriculture, fisheries, and manufacturing, while encouraging greater foreign participation in export-oriented industries. International companies can leverage Sri Lanka’s strategic location, skilled workforce, and preferential market access to establish production, sourcing, and distribution operations that serve both regional and global markets. As Sri Lanka continues to pursue stronger trade partnerships and improve its business environment, foreign businesses/investors are presented with growing business/investment opportunities in manufacturing, logistics, value-added exports, technology, and supply chain development. The country’s expanding network of trade relationships positions it as an increasingly attractive gateway for businesses seeking access to international markets from South Asia.
| Article Code : | VBS/AT/20260703Z_2 |