Sri Lanka’s Parliament has approved a comprehensive tariff overhaul, officially enacting a new national policy designed to liberalize trade and stimulate export growth.
The legislative move includes a resolution under the Customs Ordinance and two orders under the Sri Lanka Export Development Act, signaling a decisive shift toward a more open and streamlined trade regime.
The policy change is expected to reduce friction for importers and exporters by simplifying duty structures, potentially lowering costs for businesses and improving the country's competitiveness in regional markets.
For investors monitoring emerging market reforms, the enactment represents a concrete step toward stabilizing the trade balance and attracting foreign direct investment.
This development follows a broader series of fiscal measures introduced by the Colombo government.
Earlier this year, Sri Lanka launched its inaugural National Tax Week, an initiative aimed at strengthening state revenue generation and accelerating fiscal recovery.