SL to get access to UK market for over 80% products under new Trading Scheme

16 August 2022 06:35 pm Views - {{hitsCtrl.values.hits}} 8 Bookmark

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Sri Lanka is included in the UK's new Developing Countries Trading Scheme (DCTS) which replaces the UK’s Generalized Scheme of Preferences (GSP), accessing to the UK market for over 80% of Sri Lankan export products.

“The UK's new Developing Countries Trading Scheme (DCTS) is one of the most generous sets of trading preferences of any country in the world and will benefit Sri Lanka by boosting the economy and supporting jobs,” British High Commissioner Sarah Hulton said.

She said that the DCTS will remove tariffs an over 150 additional products and also it will also simplify some seasonal tariffs, meaning additional and simpler access for Sri Lanka's exports to the UK.

“The new scheme, which replaces UK GSP, will come into force in 2023 and the UK looks forward to future trading opportunities with Sri Lanka,” she said.

According to the UK’s Department for International Trade the new Trading Scheme applies to 65 countries, offering lower tariffs and simpler rules of origin requirements for exporting to the UK.

Comments - 8

Karalasingam Sivalingam Tuesday, 16 August 2022 07:53 PM

Never live with a bias mind, once let free, hands off, today we find number of thieves, snatch thieves who are a social nuisance and threat to th society, concentrate in rounding up them

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Jay Tuesday, 16 August 2022 08:23 PM

This is fantastic news for both SL and the UK. Bring it on......

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GHT Tuesday, 16 August 2022 11:00 PM

Compared to the UK market, we feel, Ethiopia market will be beneficial to Sri Lankan than UK whose citizens are so STINGY and wont spend money on SL products. 80 percent of Exportation cost will have to be borne by Sri Lanka, when they are returned back to Sri Lanka unsold.

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Prasanthaa jayasekera Tuesday, 16 August 2022 11:00 PM

I am manufacturing water filters for CKD effected people in Sri Lanka, would like to help UK citizen get this new filters too.

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Tommy Wednesday, 17 August 2022 02:29 AM

What the UK can't get from the EU, the brits will get all SL shit in the future.

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Ram Wednesday, 17 August 2022 02:47 AM

I hope the UK authorities will weigh the DCTS against their young female journalist banned from the country for reporting government misdeeds

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Ceylonese Thursday, 18 August 2022 05:46 AM

What has Sri Lanka got to export when they can't even grow their own food and have to rely on India even our staple food rice? Tea is still our main export thanks to the British who opened tea plantations in the country. While our garment industry exports mostly imitations of the big brand names which are cheaper than the original product in shops in Australia and the UK while in the US I saw it was all apparel made in South America making use of cheap labour in these countries.

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Sanjay Silva Friday, 19 August 2022 09:58 AM

Great News Thanks UK Government

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