Sri Lanka hopes to significantly boost its apparel exports to the United Kingdom. Apparel exports make up 46 per cent of Sri Lanka’s total exports to the UK. Last year, Sri Lanka’s apparel and textile exports to the UK accounted for 78 per cent of the country’s exports to that market. The UK market is seen as one with a large unutilised export potential.

Fast moving consumer goods, pharmaceutical and technology services are seen as potential areas for more collaboration and investment between the two countries. Sri Lanka also hopes to increase exports of vegetable products, plastic, rubber, transportation and machinery and electrical products to the UK. Sri Lanka is confident of offering ethically-manufactured, environmentally-responsible high quality products for the British market. Sri Lanka is seeking a preferential trade arrangement with the UK to continue to reap the benefits of GSP Plus, leading towards a free trade agreement in future. The country’s preferential access needs will continue regardless of Britain’s EU membership.

Bilateral trade between the two countries is largely in favor of Sri Lanka. The UK is the fifth largest FDI source for Sri Lanka. The UK plans to focus more on Commonwealth countries, including Sri Lanka, an area which has somewhat been neglected for several decades.