The UK has removed import tariffs on Sri Lankan garments, offering a major advantage to exporters. This new trade measure is expected to boost Sri Lanka’s economy and expand access to one of its key international markets.
In a significant win for Sri Lanka’s export sector, the United Kingdom has announced the removal of tariffs on a range of products, including Sri Lankan garments, making them eligible for duty-free access to the UK market.
According to a statement from the British High Commission, these new trade measures are part of the UK’s broader efforts to strengthen economic ties with developing countries. The most impactful change for Sri Lanka lies in the relaxation of trade regulations for the apparel sector.
This move is particularly beneficial to Sri Lanka’s garment industry, one of the country’s largest sources of export revenue and employment. The UK’s decision means that even garments made with imported raw materials can now enter Britain without incurring any import duty.
The duty-free access is expected to enhance Sri Lanka’s competitive edge in the UK market, allowing exporters to expand their market share while reducing production costs and increasing profit margins.
Industry experts believe this decision will inject much-needed energy into Sri Lanka’s struggling economy. The garment sector, already a cornerstone of the nation’s export strategy, employs hundreds of thousands of workers, primarily women, and contributes significantly to foreign exchange earnings.
The announcement comes at a time when Sri Lankan exporters are facing challenges in other markets due to trade barriers and shifting global policies. The UK’s tariff exemption provides a welcome boost, reinforcing the value of bilateral trade relations and offering a new pathway for economic recovery.
