Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* UK’s new Developing Countries Trading Scheme to benefit Sri Lanka
Tue, Aug 16, 2022, 09:45 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 16, Colombo: The UK’s new Developing Countries Trading Scheme (DCTS) that will be launched early next year will benefit Sri Lanka by boosting the economy and supporting jobs, the British High Commissioner to Sri Lanka Sarah Hulton said.

According to the Department for International Trade the new scheme which will replace the UK’s current Generalized Scheme of Preferences (GSP), offers developing countries one of the most generous sets of trading preferences of any country in the world.

Sri Lanka will continue to benefit from duty free exports to the UK on more than 80 percent of products and the DCTS will remove tariffs on over 150 additional products, according to a statement by the High Commissioner Hulton on Twitter.

It will also simplify some seasonal tariffs meaning additional and simpler access for Sri Lanka’s exports to the UK. “The UK looks forward to future trading opportunities with Sri Lanka,” the envoy said.

The DCTS aims to support sustainable growth in developing countries through a more generous unilateral offer, according to the UK’s Department for International Trade.

The DCTS applies to countries that currently benefit under the UK’s GSP.

The DCTS provides duty-free, quota-free trade to 47 Least Developed Countries on everything but arms and duty-free, quota-free trade on 85% of eligible goods to 18 additional countries or territories classified by the World Bank as low income countries (LIC) and lower middle-income countries (LMIC).


ColomboPage - Recent 10 Stories ::
Ambassador Cindy McCain meets with Sri Lankan President Ranil Wickremesinghe
-- [31 minutes ago]
Police battle with robbers to recover hijacked petrol bowser
-- [56 minutes ago]
Paddy Marketing Board buys over 570 MT of paddy crop from Vavuniya farmers
-- [1 hour and 17 minutes ago]
Value Added Special Rice Flour Production Project launched
-- [2 hours ago]
GCE A/L students to be awarded scholarships from the President’s Fund
-- [3 hours ago]
President lto eave on official visit to Japan and Philippines
-- [3 hours ago]
Sri Lanka Customs nabs Buddhist monk attempting to smuggle illegal items worth over Rs.30 million
Aeroflot to resume services to Sri Lanka from the 9th October
Sri Lanka pledges to ‘build back better’ from the current crisis
President to leave for Japan tonight to attend former Japanese Prime Minister Abe’s funeral

Copyright © 2000, 2020 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.