Srilanka, May 18 -- After nearly five years of import restrictions, the Government has opened the gates to the global automobile market. As of February 1, 2025, all types of vehicles are once again permitted into the island, under a new regulatory regime aimed at balancing economic revival with foreign exchange discipline.
The decision marks the most significant shift in trade policy since the 2020 blanket ban on vehicle imports-a drastic measure imposed at the height of Covid-19 pandemic, which led to a foreign exchange crisis.
DMT Chief Kamal AmarasingheDMT Chief Kamal Amarasinghe
Although the Government lifted the vehicle import ban, it has imposed high taxes to control the number of imports. As of February 1, 2025, all vehicles classi...