They are now allowed to source up to cent per cent of inputs from any country while maintaining tariff-free access to the United Kingdom.
Sri Lankan garment manufacturers secured unprecedented access to the UK market under liberalised trade rules beginning January 1.
They are now allowed to source up to cent per cent of inputs from any country while maintaining tariff-free access to the UK.
There are fewer processing requirements now, removing the previous rule that two significant manufacturing processes must take place in Sri Lanka.
Hence, there are fewer processing requirements now, removing the previous rule that two significant manufacturing processes must take place in Sri Lanka, a statement by the High Commission said.
The liberalised rules also include the creation of an Asia Regional Cumulation Group of 18 countries applicable to all other exports from Sri Lanka.
“By simplifying rules of origin, we are supporting Sri Lanka’s economic growth by improving market access to the UK and helping to further diversify exports,” the British High Commissioner to Sri Lanka Andrew Patrick said.
“We recognise Sri Lankan government’s ambition for export growth and continue to advocate for improved utilisation of the scheme,” he said.
Sri Lanka’s Joint Apparel Association Forum (JAAF) welcomed the decision.
The United Kingdom is now Sri Lanka’s second-largest garment export market, valued at nearly $675 million.
Fibre2Fashion News Desk (DS)
