SL able to boost trade with the UK as new trading scheme comes into force

The DCTS, which was announced last year, provides tariff reductions and simpler terms of trade. It will allow Sri Lanka to trade with the UK tariff-free on 92 percent of goods, leading to increased competitiveness of local products in that market.

“We hope that Sri Lankan exporters will broaden their opportunities with the UK by making use of the wider number of products for which tariffs have been removed. The DCTS is a tangible example of the UK’s commitment to growing free and fair trade with countries like Sri Lanka, boosting economies, and supporting jobs,” said  British High Commissioner to Sri Lanka Sarah Hulton in a statement today.