ECONOMYNEXT – Sri Lankan exporters are not making enough use of a duty free arrangement with the United States and need to exploit it better, Harsha De Silva, Deputy Minister of National Policies and Economic Affairs, said.
The US Generalised System of Preferences (GSP) program gives duty free access for some Sri Lankan exports like rubber gloves, pneumatic tires and activated carbon.
“But not for our main export, apparel,” De Silva told a forum on the US GSP program held by the Sri Lanka – USA business Council of the Ceylon Chamber of Commerce.
“The GSP program’s use rate is reasonably high. But there are many HS (Harmonised System Customs) codes you can still exploit.”
Of 500 HS codes that are eligible to the US, only around 80-are 90 being used, De Silva said.
(COLOMBO, Sept 20 2017)