Sri Lanka Exports to SASEC Countries up by 8%

9 May 2019

Sri Lanka’s exports to South Asia Subregional Economic Cooperation (SASEC) member countries have increased from 6% to 8% in the 13-year-period from 2002 to 2015. India is Sri Lanka’s largest export market among SASEC countries, with 83% of its exports going to India. India is also Sri Lanka’s largest source of imports, with 99% of SASEC-country imports coming from India. This is according to the study Potential Exports and Nontariff Barriers to Trade: Sri Lanka National Study done by the Asian Development Bank (ADB).

According to the ADB national diagnostic study, sanitary and phytosanitary (SPS) and technical barriers to trade (TBT) result in low volume of trade with Bhutan and Nepal. Analysis shows legal, institutional, and infrastructure gaps in Sri Lanka’s SPS structure. These include weak coordination among regulatory authorities and shortage of laboratory facilities for testing new products and services. The study also notes the need for the Sri Lanka Standard, a national product certification mark, to be accredited and recognized internationally to help Sri Lanka exports.

The study presents practical recommendations for developing a legislative and regulatory framework environment, institutional and capacity frameworks, and SPS-TBT-related infrastructure.


Related Link:

  • SL exports to South Asia Sub regional Economic Cooperation up by 8%
  • The Asian Development Bank (ADB) approved the proposed financing for the Maldives: SASEC National Single...

    Read More


    Bangladesh Prime Minister Sheikh Hasina inaugurated the Konabary and Chandra flyovers; the Kaliakair, Deohata, Mirzapur, and Gharinda underpasses;...

    Read More


    Mr. Manmohan Parkash, Country Director of Bangladesh Resident Mission of the Asian Development Bank (ADB), called on Mr....

    Read More


    The Central Board of Indirect Taxes and Customs (CBIC) of the Government of India organized the 20th Regional...

    Read More


    India could play a crucial role in interconnecting regional energy networks. In ...

    Read More


    With the implementation of the electronic cargo tracking system (ECTS) at the ports of Kolkata and Visakhapatnam (Vizag),...

    Read More


    The status of Authorized Economic Operator (AEO) was granted by the National Board of Revenue...

    Read More