UK Govt. kicks off roadshow in Colombo on new preferential trade scheme

Tuesday, 14 March 2023 00:40 - - {{hitsCtrl.values.hits}}

The United Kingdom will today kick off a roadshow in Colombo on its new Developing Countries Trading Scheme (DCTS), its successor to the GSP+ following Brexit.

Two officials from the Department of International Trade in UK (UKDIT) who are policy advisors of DCTS Sofie Kinsey and Fabian Hartwell are in Sri Lanka to popularise the scheme among private sector and other stakeholders.

DCTS is a generous set of trading preferences that would help Sri Lanka to diversify exports and expand its economy. The scheme means that a wide variety of products will benefit from lower or zero tariffs.

Sri Lanka is a beneficiary under the DCTS Enhanced Framework Scheme offering zero duty for over 7000 eligible product lines (at HS 6 level).

British High Commissioner Sarah Hulton will officiate at a presentation today whilst the UKDIT officials will also attend a launch ceremony organised by the Department of Commerce tomorrow.