Exports of travel goods from Sri Lanka will be duty free entry to the United States following a decision by the US to approve the inclusion of travel goods from all General System of Preferences (GSP) beneficiary countries, reports Xinhua News.
Sri Lanka was included in the expanded US General System of Preferences scheme on July 1 according to a statement released by Sri Lanka’s Foreign Ministry on Friday.
“Following this concession, Sri Lanka’s travel goods exports to the United States will have the potential to regain the market share previously enjoyed by Sri Lanka by making the country among top 10 suppliers to the US market, once again,” said Sri Lanka’s Foreign Ministry on Friday.
The US decision enables duty free products such as bags, wallets and backpacks to enter the US market whilst avoiding the usual 6 to 20 percent general tariff applied to exports.
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