UK Trade Envoy discusses exports growth, investment climate with Industry Minister as Sri Lanka and the United Kingdom reaffirmed their commitment to strengthening bilateral trade, expanding export opportunities and fostering a more attractive environment for foreign investment.
UK Trade Envoy discusses exports growth, investment climate with Industry Minister in Colombo
UK Trade Envoy Lord Hannett of Everton and British High Commissioner to Sri Lanka Andrew Patrick met with Industry and Entrepreneurship Development Minister Sunil Handunneththi on Thursday to discuss measures aimed at enhancing economic cooperation between the two countries.
According to the British High Commission in Colombo, the discussions focused on increasing Sri Lanka’s utilisation of the UK Developing Countries Trading Scheme (DCTS), which offers zero-tariff access for a broad range of Sri Lanka exports entering the UK market.
The DCTS is designed to support developing economies by providing preferential market access, enabling exporters to improve their competitiveness while strengthening long-term trade partnerships with the United Kingdom.
The UK Trade Envoy discusses exports growth, investment climate with Industry Minister meeting also explored ways to deepen commercial engagement between Sri Lanka and the UK, with both sides identifying opportunities to expand trade links and create greater prospects for Sri Lankan businesses seeking to enter or grow within the British market.
Officials highlighted the importance of maximising the benefits available under the UK Developing Countries Trading Scheme, particularly as Sri Lanka continues efforts to diversify exports and increase foreign exchange earnings through higher-value products and improved market access.
The British High Commission said both parties also emphasised the need to maintain a transparent, predictable and business-friendly investment environment to strengthen investor confidence and encourage long-term economic partnerships.
Creating policy certainty and improving the ease of doing business have become central priorities as Sri Lanka works to attract increased foreign direct investment while supporting private sector-led economic growth.
The meeting comes at a time when Sri Lanka is pursuing an ambitious export expansion agenda as part of its broader economic recovery strategy. Government initiatives are focused on improving trade facilitation, strengthening international market access and encouraging greater participation from export-oriented industries.
The United Kingdom remains an important trading partner for Sri Lanka, particularly in sectors such as apparel, tea, food products, information technology services and other value-added exports. Preferential access under the UK Developing Countries Trading Scheme provides Sri Lankan exporters with opportunities to enhance their competitiveness in one of the country’s key overseas markets.
Industry observers note that expanding bilateral trade relations and attracting greater investment will be critical to achieving Sri Lanka’s long-term export growth objectives. Continued engagement between government representatives and international partners is expected to support reforms that improve the investment climate while creating new opportunities for businesses operating in both countries.
The discussions between Lord Hannett, High Commissioner Andrew Patrick and Minister Handunneththi reflect the shared commitment of Sri Lanka and the United Kingdom to strengthening commercial ties, supporting sustainable economic growth and unlocking greater opportunities for trade and investment in the years ahead.