COLOMBO, Sri Lanka, Aug 26 (ePRESS) – The Free Trade Zone Manufacturers Association (FTZMA) has expressed deep appreciation to the United Kingdom for extending liberalized Rules of Origin and zero-tariff access to Sri Lankan exports under the Developing Countries Trading Scheme (DCTS).
In a letter signed by FTZMA Chairman Dhammika Fernando and Secretary General M.H.Z.M. Marzook, the association said the move was a “generous reform” that would benefit a wide range of industries beyond the apparel sector.
Under the scheme, Sri Lankan exporters now enjoy duty-free access to more than 7,000 product lines. The new Rules of Origin provisions also allow apparel manufacturers to source up to 100 percent of inputs from any country while still maintaining tariff-free entry into the UK market.
“This development will significantly boost the competitiveness of Sri Lankan exports, safeguard livelihoods, and further strengthen the trade partnership between Sri Lanka and the UK,” the association said.
The FTZMA, which represents enterprises operating under the Board of Investment of Sri Lanka, noted that the UK’s decision reflects a strong commitment to inclusive economic growth.
