The Ceylon Chamber of Commerce welcomes the reduction of the tariff rate on Sri Lanka from 44% to 30%.
However, they urge the government to continue discussions with the US authorities.
Issuing a statement, the Chamber of Commerce said that the reduction in the tariff rate is considered an effective and important first step by the government to bring its exports to the US closer to the tariff structure of regional competitors.
The government is also urged to continue discussions with the US administration to achieve a further reduction by August 1, especially as other countries in the region are expected to benefit from even lower rates.
The Ceylon Chamber of Commerce further requests in its statement that it stands ready to support the government’s efforts through productive dialogue, industry feedback and coordinated consultation.