Sri Lanka officially unveils Trade Information Portal as major milestone in WTO Trade Facilitation Plan
Sri Lanka’s Industry and Commerce Ministry has stated that Sri Lanka has officially unveiled its Trade Information Portal (TIP) last week completing a major milestone in its WTO Trade Facilitation Plan.
The Ministry has stated that following this achievement, Sri Lanka is now set to achieve its targets.
“Sri Lanka Trade Information Portal (SLTIP) is prioritized for implementation in the WTO TFA plan for the country and it is also an integral part of the trade policy and export promotion strategy at national level. With the official launch and operation of this SLTIP today, our business community and stakeholders will be provided with a useful tool to find the information necessary to facilitate their import-export activities,” Minister of Industry and Commerce in Sri Lanka, Rishad Bathiudeen has said.
SLTIP is the repository of trade related regulatory and other updated information combining 43 Sri Lankan Ministries and government agencies related to international trade (Such as the Customs, Department of Commerce, Ministry of Agriculture, Finance Ministry, Central Bank, the Department of Foreign Exchange, Department of Import and Export Control, National Medicines Regulatory Authority (NMRA) and the Tea Board etc), into one single web platform at www.srilankatradeportal.gov.lk.
SLTIP has more than 1,000 web pages of information and even GSP Automation. As a result it reduces time and costs of traders in their trading activities since the need to visit 43 organizations for trade information are reduced to a click of a button on the computer.
“This would facilitate our SMEs in expanding their trading opportunities at a lower cost and shorter time. SMEs would find it difficult if they cannot access and know about the process and measures that they need to follow. Not only SMEs but even other potential importers, exporters and international businesses need to know what steps to follow when trading with Sri Lanka. This portal gives the needed information. Some of the trade procedures and requirements are being duplicated in many organizations. Therefore it is time for us to evaluate the real need of many of those regulatory frameworks which do not add value to trade but affects the Ease of doing business rankings which the government is keen to improve. Some of these could be integrated through a National Single Window which is the next Trade Facilitation initiative originating from this Trade Information Portal,” the Minister has added.
Some of SLTIP’s other features include: an overview of Sri Lanka’s economy, business start-up process, import and export guide, as well as information on special economic areas, export processing zones, cross-border trade and GSP automation; international, regional and bi-lateral trade agreements to which Sri Lanka is a party, including applicable rules and requirements as well as associated benefits.
OSL take:
The launch of the Trade Information Portal by the Sri Lankan government would now further improve the ease of doing business climate in Sri Lanka. The latest move by the government has made it easier for foreign businesses looking at doing business in Sri Lanka to commence their operations in the country through the online process.
| Article Code : | VBS/AT/20180725/Z_4 |