UK Trade Reforms Open New Doors for Sri Lankan Exports 🇱🇰
UK Trade Reforms Open New Doors for Sri Lankan Exports 🇱🇰
Sri Lanka stands to benefit significantly from the UK’s latest trade reforms, as the British government unveiled a series of upgrades to the Developing Countries Trading Scheme (DCTS) on 10 July.
The changes include simplified rules of origin, allowing more Sri Lankan goods — particularly garments — to enter the UK tariff-free, even when using components sourced from other countries in Asia and Africa, the British Department of Business and Trade said in a statement.
These reforms are expected to enhance Sri Lanka’s competitiveness in the UK market, which is the second-largest export destination for Sri Lankan apparel.
The changes will support jobs, promote exports, and contribute to sustainable economic growth in the country.
I appreciate this informative update on UK trade reforms and agree that the simplified rules of origin for the DCTS could provide meaningful opportunities for Sri Lankan exporters, especially in the garment sector where flexible sourcing is crucial for competitiveness.