Shipping overview - Sri Lanka

Shipping overview - Sri Lanka

Whitney - February 21, 2018

Sri Lanka is a trading and a trans-shipment hub for south Asia. Sri Lanka has an established and growing middle class. Much of the middle class has a direct link with the UK through work, study or though family members in the UK. UK products are therefore familiar. 


Sri Lanka is already home to some of the big UK companies. They include Marks and Spencer Clothing, HSBC, De La Rue Currency, GlaxoSmithKline, Standard Chartered Bank and Rolls Royce. There are over 100 companies in Sri Lanka with UK affiliation across a wide range of sectors. 


Benefits for UK businesses exporting to Sri Lanka include:
?    English widely spoken
?    strong historical and trading links with the UK
?    commercial law based on English law
?    gateway country to Indian market via a Free Trade Agreement

Strengths of the Sri Lankan market include:
?    high performing economy
?    highly skilled and educated workforce
?    logistical hub for south Asian region

There is also potential for UK companies in:
?    food and drink where there is interest and demand for British products, but hardly any available in the market
?    Information and Communications Technology (ICT)
?    manufacturing
?    Business Process Outsourcing (BPO)
?    commercial services

The Sri Lanka Customs authority provides details of customs regulations and procedures.

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Items prohibited or restricted for export:
?    Dead or live animals or their parts (except under permit issued by the Director of Wild Life, Domestic Animals are excluded)
?    Antiquities/Cultural property/Items of Archeological value
?    Obscene publications and literature
?    Minerals in raw form (except under permit issued by Geological
?    Survey and Mines Bureau)
?    Protected plants
?    Dangerous drugs
?    Explosives
?    Live ornamental fish (except under permit issued by Director,
?    Fisheries and Aquatic Resources)

 

 


 

 

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