• These strategic initiatives aim to drive an increase in trade volume between the UK and Sri Lanka, fostering stronger economic ties and expanding business opportunities for both nations

By Sunil Jayasiri  

In an effort to bolster trade relations between the United Kingdom and Sri Lanka, Britain says it has initiated various programmes and mechanisms.   

“The Developing Countries Trading Scheme (DCTS) has been utilized to reduce tariffs and streamline trading regulations for Sri Lankan exporters,” Minister of State (Department for Business and Trade) Douglas Alexander said in UK Parliament last week.  

 Additionally, the UK government has been actively engaging in promoting UK trade, investment, trade policy objectives, and export finance in Sri Lanka, overseen by His Majesty’s Trade Commissioner (HMTC) for South Asia, he said.  

He further said that the Government officials from both countries regularly engage in bilateral discussions through events like the annual UK-Sri Lanka Strategic Dialogue, serving as a platform to address trade-related issues and enhance mutual interests.   

“These strategic initiatives aim to drive an increase in trade volume between the UK and Sri Lanka, fostering stronger economic ties and expanding business opportunities for both nations,” he added.