Sri Lanka -Ukraine Trade Relations

Sri Lanka -Ukraine Trade Relations

Sri Lanka- Ukraine bilateral economic relations

Sri Lanka–Ukraine economic relations are currently centered on a limited range of products. However, it holds strong potential for expansion through diversification, value addition, and deeper institutional engagement.

Sri Lanka’s exports to Ukraine are heavily dominated by tea, which accounts for over 70% of the total export value, highlighting its position as the flagship product in bilateral trade. In addition, Sri Lanka exports a range of other goods including activated carbon, activated natural mineral products, frozen fish, rubber products such as pneumatic tyres, and apparel etc.

On the import side, Ukraine serves as an important supplier of essential commodities to Sri Lanka. Wheat and meslin constitute the largest share of imports, accounting for approximately 38% of the total import value. Other notable imports include iron and steel, articles of iron and steel, and aircraft and related parts etc.

There remains considerable untapped potential to further expand bilateral trade. Key products identified for growth in the Ukrainian market include both bulk and packeted tea, apparel, desiccated coconut, value-added coconut fiber products, vulcanized rubber gloves, activated carbon, rubber tyres, coconut oil, and precious and semi-precious gemstones.

Institutionally, the economic relations are supported by the Agreement on Trade, Economic and Technical Cooperation signed on 10 August 1999. This agreement provides a formal framework for strengthening bilateral collaboration and includes provisions for establishing a Joint Committee to develop strategies for enhancing trade and economic cooperation.