Sri Lanka Will Export Zero Tariff Garments To India

Under relatively loose conditions in the near future,

8 million zero tariff garment products will be exported to India very soon.

At the request of the relevant departments of Sri Lanka, India decided to relax the procurement requirements for garment fabrics exported from Sri Lanka to India.

Once the India government issues formal notification, Sri Lanka will be able to export garment products to India based on the free trade agreement between the two countries.

Under the current rules of the India Sri Lanka free trade agreement, India has approved two zero tariffs on Sri Lanka.

Quotas.

It includes 3 million pieces of fabric purchased annually and 5 million pieces that must be made from India fabrics.

Sri Lanka has made full use of 3 million quotas in the past few years, but the quota utilization rate for 5 million pieces is only 10% to 15%.

The issue was raised when Anand Sharma, Minister of Commerce and industry of India, visited Sri Lanka in August, and officials from the relevant departments of the two countries will conduct further discussions to enhance bilateral cooperation.

In addition, the necessary

Approval procedures are also in progress.