Accepting an invitation extended by the Government in February 2015, the UN High Commissioner for Human Rights, Zeid Ra’ad Al Hussein will undertake a four-day official visit to Sri Lanka. The High Commissioner will arrive in Sri Lanka on the morning of...
As we commemorate independence, let us dedicate ourselves to provide a truly ethical, virtuous, wise and equitable service to all. Let us pledge to consolidate on peace and freedom achieved and build this future for our land and people, stated President...
The Instrument of Ratification of the ILO Convention concerning Employment Policy C 122 of 1964 was handed over by Ambassador Ravinatha Aryasinha, Permanent Representative of Sri Lanka to the UN in...
Minister of Sustainable Development and Wildlife, Mr. Gamini Jayawickrama Perera has re-iterated Sri Lanka's commitment to protect endangered wildlife species. He said consistent with this policy,...
Sri Lanka has been selected as one of the four pilot countries to participate in a World Intellectual Property Organization (WIPO) Project titled “Intellectual Property, Tourism and Culture.” This...
Addressing the plenary of the 32nd International Conference of the Red Cross & Red Crescent Societies today (9th) in Geneva, Ambassador Ravinatha Aryasinha, Permanent Representative of Sri Lanka 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|