The Director General of the Department of Foreign Trade at the Ministry of Commerce has disclosed that Sri Lanka recently made a significant announcement on August 14, 2023. The country has officially lifted its ban on the importation of foreign trucks and large vehicles, including buses, trucks, and liquid and gas tankers. This ban had been in place since March 2020, a measure implemented during a period of economic challenges faced by Sri Lanka.
Sri Lanka’s decision to lift the import restrictions on trucks and heavy vehicles reflects a marked improvement in the nation’s economic stability. Consequently, the government has initiated a phased approach to relax import restrictions and gradually ease limitations on various goods. The most recent step involves the resumption of imports of trucks and large vehicles. However, it is important to note that the ban on importing personal vehicles, including passenger cars, remains in effect.
This development presents a valuable opportunity for entrepreneurs in Thailand, as it opens doors for increased exports of such vehicles to Sri Lanka. The expected outcome is a notable expansion in the value of Thailand’s exports of trucks and large vehicles, fostering economic growth and trade relations between the two nations.
As Sri Lanka continues to navigate its economic recovery, the resumption of imports of trucks and heavy vehicles is a promising sign, indicative of progress and a renewed focus on international trade collaboration.