In May 2017, Sri Lanka regained the privileges of the European Union`s (EU) Generalised System of Preferences (GSP+) for Sri Lankan exports. GSP+ trade preferences consist of the complete elimination of tariffs on 66% of tariff headings covering a wide range of goods, including textiles and fisheries. The GSP+ programme is subordinated to Sri Lanka`s promotion of human and labour rights and the achievement of sustainable development. 3. Both Parties shall cooperate fully in accordance with their national laws and procedures in the event of circumvention or alleged circumvention of the Agreement in order to resolve the problems arising from the circumvention, including the facilitation of joint visits to factories and contacts between representatives of both Parties upon request and on a case-by-case basis. CONVINCED of the need to establish and promote free trade agreements to strengthen intraregional economic cooperation and the development of economies. The Free Trade Agreement between Singapore and Sri Lanka entered into force on 1 May 2018. The free trade agreement covers: investment, goods, services, trade facilitation, government procurement, telecommunications, e-commerce and dispute settlement. Sri Lanka has abolished tariffs on 50% of tariff items (including tariff items already duty-free), which will gradually increase to 80% in 14 years.

Sri Lanka will not reduce or abolish tariffs on the remaining 20% of tariff items. Goods of Indian origin exported to Sri Lanka under the EUSFTA are currently duty-free, with the exception of goods of TL 1 180 contained in the Netherlands of Sri Lanka under the EUSFTA. Some Sri Lankan exports to the United States enjoy duty-free privileges under the United States` Generalized System of Preferences (GSP), which grants duty-free preferential treatment for up to 5,000 products (clothing is excluded) from certain beneficiary countries. The U.S.-Sri Lanka Bilateral Trade and Investment Framework Agreement (CIRA) provides a framework for both governments to discuss and resolve trade and investment issues at an early stage. The last TIFA discussions took place in June 2019. The free trade agreements with India and Pakistan cover only trade in goods. The agreements provide for duty-free imports and tariff preferences for industrial and agricultural products. A national value added of 35% is required in order to benefit from the concessions granted under the agreements. Trade relations between Sri Lanka and India marked a historic milestone when the Indo-Sri Lanka Free Trade Agreement (EUSFTA) was signed on 28 December 1998 as Sri Lanka`s 1st bilateral free trade agreement. The DCFTA entered into force on 1 March 2000. The EUSFTA is now fully implemented, as both parties have fulfilled their phase-out obligations under their respective Tariff Liberalisation Programmes (TLPs), as explained below. Sri Lanka has signed free trade agreements (FTAs) with India, Pakistan and Singapore and is currently negotiating a free trade agreement with the PRC.

(i) the transit is justified for geographical reasons or for reasons related solely to transport requirements; (ii) the products have not entered into commerce or consumption; and (iii) the products have not undergone any activity other than unloading and transhipment or any activity necessary to maintain their condition. The Parties agree to establish a free trade area for the free movement of goods between their countries by eliminating customs duties on trade in goods in accordance with the provisions of Annexes A and B, which form an integral part of this Agreement. Sign up here to access free tools such as favorites and notifications or access personal subscriptions Please visit India`s website for ISFTA tariff concessions and other Customs Information from India: www.indiantradeportal.in/index.jsp Government of Sri Lanka grants tariff concessions for exports from India to Sri Lanka with respect to items that can be freely imported into Sri Lanka Lanka, – RECOGNISING that the progressive elimination and elimination of barriers to bilateral trade through a bilateral free trade agreement (hereinafter referred to as « the Agreement ») would contribute to the expansion of world trade. Describes the trade agreements in which this country is involved. Provides resources for U.S. companies to obtain information on the use of these agreements. Goods of Sri Lankan origin exported to India isFTA are currently duty-free, with the exception of the following categories The Agreement may be amended or supplemented by mutual agreement between the Parties. Proposals for amendments or additions shall be submitted to the Joint Committee and, after adoption by the Joint Committee, shall be approved in accordance with the legislation applicable to each Party […].