The trading bridge between South Korea and Sri Lanka has strengthened over the years, with US$327 million worth of imported products from South Korea entering the Sri Lankan market. As businesses in both nations aim to leverage this flourishing relationship, understanding how to import goods, particularly products like South Korean skin care products, clothes, and cosmetics, becomes crucial. This blog guides businesses through the essentials of exporting from South Korea and importing into Sri Lanka, aligning with DHL Express’ international shipping expertise.
Customs regulations for importing from South Korea to Sri Lanka
1. Duties, taxes, and fees
When planning to import from South Korea, it's essential to understand the various customs duties, taxes, and other fees that come into play. These costs can significantly impact the final price of the imported goods, including popular items like South Korean export products and cosmetics.
2. Free trade agreements and tariff reductions
Utilising free trade agreements (FTAs), such as the Asia Pacific Trade Agreement (APTA), a critical free trade agreement involving South Korea and Sri Lanka, is crucial in reducing trade barriers. It facilitates economic integration by lowering or eliminating tariffs on various goods. APTA offers significant benefits like reduced tariffs for electronics, machinery, textiles, apparel, and certain agricultural products. This reduction in tariffs under APTA makes importing these goods from South Korea to Sri Lanka more cost-effective, enhancing trade opportunities and enabling competitive pricing. Understanding and leveraging APTA's benefits, especially with guidance from logistics experts like DHL Express, is vital for efficient international trade.
Restricted & prohibited items
When importing from South Korea to Sri Lanka, understanding the list of restricted and prohibited items is crucial. These are items that, due to various reasons such as health, security, or environmental concerns, are not allowed or require special permissions to be imported. Here is the list of items that Sri Lanka controls from entering its borders:
List of prohibited items:
- Dead or live animal or its parts. Permits are issued for research purposes and exchange with foreign zoos and museums.
- Live Fish (prohibited species)
- Protected plants listed under the Fauna & Flora Protection Ordinance
- Antiquities/Cultural Property
- Explosives
- Dangerous drugs
- Minerals in raw form
- Obscene publication and literature
List of restricted items:
- Apparel
- Tea
- Gems, diamonds, and jewellery
- Meat products
- Beer
- Alcoholic beverages
- Non-alcoholic beverages (bottled mineral water/drinking water)
- Cashew kernels
- All spices
- Cinnamon
- Herbal finished products
- Herbal cosmetics
- Herbal plants
- Coconut and coconut-based products
- Fruits and vegetables
- Minerals
- Wood, including logs and sawn timber
- Article of wood (ebony)
- Wooden-based toys and furniture
- Fish and fisheries products
- Ornamental fish
List of items under licence control:
- Conch shells, coral chanks, and other than chanks
- Wood, including logs and sawn timber
- Article of wood (ebony)
- Metal scraps, slag, ingots, dross, granules, and powders
- Ivory and ivory products
- Passenger motor first registered in Sri Lanka before January 01, 1945
Businesses must stay informed about these regulations to avoid legal issues and potential delays in customs when shipping from South Korea to Sri Lanka. It's essential to consult with customs clearance authorities or work with experienced logistics providers like DHL Express, who can offer guidance on navigating these complexities in international trade.