Geneva-based International Trade Centre to assist Sri Lanka comply with ICT in trade
Within the framework of the EU-Sri Lanka Trade-Related Assistance project, and the GIZ project on enhancing the step-by-step procedures functionality, the Geneva-based International Trade Centre (ITC) is assisting the Government of Sri Lanka to comply with one of the transparency provisions of the World Trade Organisation (WTO) Trade Facilitation Agreement (TFA) – Article 1.2 (information available on internet, including practical steps needed for importation exportation, and transit, trade-related forms and documents), the Daily FT has reported.
The report states that EU-Sri Lanka Trade-Related Assistance project is funded by the European Union (EU) and is implemented by ITC and UNIDO, where ITC is the lead implementing agency.
Accordingly, ITC’s technical assistance focuses on the development of step-by-step guides to trade formalities and specific support is provided to the Department of Commerce (DoC) to develop a step-by-step procedures functionality – detailing step-by-step product-specific export and import procedures in Sri Lanka – to be eventually integrated in the Sri Lanka Trade Information Portal (TIP).
The report further states that with a view to disseminate to the public the work carried out so far, ITC and DoC – with the support of the EU and GIZ, organised an awareness-raising event on the step-by-step functionality on 5 September, well attended by over 50 participants from the public and private sector. The event had reportedly taken place at the Cinnamon Grand.
In addition to raising awareness on the step-by-step functionality, the event sought to showcase to public and private stakeholders the work undertaken to consolidate the information in the functionality, including the mapping of relevant trade procedures with key border agencies, and uploading the information onto the step-by-step functionality online. Highlighting the intended benefits for the private sector in using the information provided in the step-by-step functionality, discussing the next steps, and gathering feedback of the stakeholders on how to improve the functionality were also addressed at the event, the Daily FT report states.
The multiple benefits of the functionality were also highlighted, as they provide consolidated information on trade formalities in a sequential order in a single map – differentiating between export and import procedures – thus providing predictability to the entire export/import process and contributing to leverage time and cost savings for traders.
OSL take:
The government of Sri Lanka has given priority to the upliftment and development of the country’s ICT and digital infrastructure sectors. This has created many business/investment opportunities in the two sectors in the country. Apart from a work force skilled in ICT, Sri Lankan authorities also provide incentives to businesses engaged in the fields of ICT and digital infrastructure.
| Article Code : | VBS/AT/17092019/Z_1 |