Deputy Foreign Minister Ajith P Perera participated at the Global Conference on Cyberspace, from 16-17 April 2015 in the Netherlands. Speaking at the conference, the Deputy Minister underscored that Information and Communication Technology was the tool and...
Sri Lankan President Maithripala Sirisena’s visit to Pakistan is a testimony to the strong bonds of friendship between the two countries, Pakistani Prime Minister Nawaz Sharif said addressing a joint press conference yesterday (April 6). Prime Minister Sharif...
Sri Lanka's Ambassador to the UN in Geneva Ravinatha Aryasinha, in his capacity as the Chair – Designate of the Convention on Certain Conventional Weapons (CCW) for 2015, opened the week long...
Sri Lanka's Permanent Representative to the UN in Geneva Ambassador Ravinatha Aryasinha on 2 April 2015 addressed the first in the 'Ambassador’s Luncheon Series', on "The Role of Women in...
Sri Lanka has expressed concern about the spread of atrocities by Boko Haram. Intervening in the Special Session of the Human Rights Council held on 1st April 2015, Sri Lanka’s Permanent...
Minister of Public Order, Disaster Management & Christian Affairs John Amaratunga led the Sri Lankan delegation to the Third UN Conference on Disaster Risk Reduction held 14 – 18 March 2015 in...
FOREIGN TRADE REGIME OF SRI LANKA
Sri Lanka, a founder member of the GATT/WTO, continues to be a strong promoter of free trade. Its foreign trade regime is characterised by a combination of the GATT/WTO disciplines and a series of market-oriented reforms, which were introduced unilaterally by several successive governments since 1977. The liberal trade policies strive at further integrating Sri Lanka into the global economy, while holding in balance the domestic stakeholder interests.
Imports are primarily regulated through border tariffs with hardly any quantitative restrictions. Sri Lanka currently maintains a simplified four-band tariff structure, where over 50% of the tariff lines enjoy zero (MFN) duty.
|Classification|| Customs Duty (%)
|| No. of Tariff Lines
|Essential inputs, not manufactured locally||0.0
|Raw materials & semi raw materials||7.5||184|
However, it is pertinent to mention that a few product categories such as alcohol, cigarettes, perfumes and automobiles are subject to higher tariffs.
Sri Lanka is a signatory to the following free / preferential trade agreements, which grant tariff concessions to a wide range of products in a number of key markets.
- Indo-Sri Lanka Free Trade Agreement
- Pakistan-Sri Lanka Free Trade Agreement
- South-Asian Free Trade Area (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka)
- Asia-Pacific Trade Agreement (Bangladesh, China, India, South Korea, Laos and Sri Lanka)
- Global System of Trade Preferences – GSTP (Over 40 countries)
Sri Lanka also enjoys preferential market access under the Generalized System of Preferences (GSP) schemes of the following countries.
Australia Canada European Union
Japan New Zealand Norway (GSP+)
Russia Switzerland United States
An ideal destination for trade and investment
The 2013 “Ease of Doing Business” Survey by the World Bank Group has ranked Sri Lanka as the easiest country to do business within the entire South Asian region. A host of factors, including peaceful and business friendly environment, supportive government policies, educated and easily adaptable workforce, strategic location and connectivity, preferential access to key markets, fast improving social infrastructure and quality of life have made Sri Lanka an ideal destination for both trade and investment.
| Department of Commerce
|Department of Sri Lanka Customs|
|Board of Investment of Sri Lanka|
|Department of Registrar of Companies|
|National Intellectual Property Office|
|Sri Lanka Tourism Promotion Bureau
|Sri Lanka Export Development Board|