Sri Lankan garment manufacturers secured unprecedented access to the UK market under liberalised trade rules beginning January 1, according to the British High Commission in Colombo.<\/p>\n
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.<\/p>\n
Sri Lankan garment manufacturers secured unprecedented access to the UK market under liberalised trade rules beginning January 1.
\nThey are now allowed to source up to cent per cent of inputs from any country while maintaining tariff-free access to the UK.
\nThere are fewer processing requirements now, removing the previous rule that two significant manufacturing processes must take place in Sri Lanka. <\/p>\n
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.<\/p>\n
The liberalised rules also include the creation of an Asia Regional Cumulation Group of 18 countries applicable to all other exports from Sri Lanka.<\/p>\n
\u201cBy simplifying rules of origin, we are supporting Sri Lanka\u2019s economic growth by improving market access to the UK and helping to further diversify exports,\u201d the British High Commissioner to Sri Lanka Andrew Patrick said.<\/p>\n
\u201cWe recognise Sri Lankan government\u2019s ambition for export growth and continue to advocate for improved utilisation of the scheme,\u201d he said.<\/p>\n
Sri Lanka\u2019s Joint Apparel Association Forum (JAAF) welcomed the decision.<\/p>\n
The United Kingdom is now Sri Lanka\u2019s second-largest garment export market, valued at nearly $675 million.<\/p>\n
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Fibre2Fashion News Desk (DS)<\/p>\n
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