Sri Lanka Brodcasting Corporation


Last updateMon, 24 Jun 2019 2pm

Business News

Travel goods from Sri Lanka to enjoy duty free entry to the United States.

Export of travel goods from Sri Lanka will enjoy duty free entry to the United States following a decision by the United States administration to approve the inclusion of travel goods from all GSP beneficiary countries, including Sri Lanka, in the expanded US General System of Preferences (GSP) scheme on July 1, 2017.

The tariffs and taxes on exported passenger bags and related items to America have been waived off. The American government has taken this decision for the benefit of the countries which enjoy the GSP plus concession. Accordingly, the passengers bags, pouches and other related items exported to America will enjoy this facility. This would enable the duty-free entry of products such as bags, wallets and backpacks in to the US market after being previously charged 6 to 20 percent of tariff.

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. The inclusion of travel goods in the GSP is expected to help US travel goods brands and retailers to broaden sourcing options for these products.

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