'Less Red Tape' : UK Pushes for Easier Market Access in Sri Lanka

COLOMBO (News 1st); Lord John Hannett of Everton, the UK Prime Minister’s Trade Envoy to Sri Lanka, is currently on his first official visit to Colombo from 25 to 28 May 2025.

Appointed in January this year, Lord Hannett’s visit marks a significant step in reinforcing the United Kingdom’s commitment to deepening trade and investment relations with Sri Lanka.

During his visit, Lord Hannett is engaging in high-level discussions with key Sri Lankan officials, including the Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe, and Deputy Minister for Industry and Entrepreneurship, Chathuranaga Abeysinghe.

He is also meeting with representatives from the Export Development Board (EDB) to explore opportunities for UK businesses and discuss reforms aimed at improving the ease of doing business in Sri Lanka.

Lord Hannett’s itinerary includes interactions with a broad spectrum of the business community—ranging from UK and Sri Lankan business leaders to women entrepreneurs and education providers. He is also visiting major UK companies operating in Sri Lanka, such as the London Stock Exchange Group, De La Rue, HSBC, Haleon, and MAS Silueta.

A key highlight of the visit is the launch of the 'SheTrades' webpage on the EDB website, in collaboration with the International Trade Centre. This initiative builds on the SheTrades Sri Lanka Hub launched in March and aims to empower women-led businesses by enhancing their access to international markets.

The British High Commission in a statement said that the UK is keen to see Sri Lanka reduce market access barriers and improve ease of doing business and enhance transparency which will further boost the UK – Sri Lanka trade and investment relationship.

It added that, Sri Lanka is a valuable trading partner for the UK, with bilateral trade worth approximately £1.6bn. The trade balance is skewed in Sri Lanka’s favour with the UK as Sri Lanka’s second largest export market.