Sri Lanka’s Trade Facilitation Task Force to enhance export efficiency
The Morning: As a strategic move to develop a mechanism for addressing challenges in the export value chain, the Sri Lanka Export Development Board (EDB) has established a Trade Facilitation Task Force. The first meeting was held on 29 October at the EDB premises.
Attendees included EDB Director General Champika D. Dharmasena, Development Additional Director General Anoma Premathilaka, ‘Trade National Single Window System Project’ Project Director Neelakanth Vanninayake as well as officials from public institutions nominated to the task force, along with EDB Directors and Officers.
The task force comprises representatives from 35 public sector organisations directly involved in facilitating cross-border trade. Its main objective is to identify operational issues and develop solutions to the obstacles faced by exporters, aiming to address these challenges in the shortest possible time.
Through this initiative, the EDB seeks to foster cooperation between institutions to streamline trade processes, improve export efficiency, and support the country’s economic growth.
By reducing trade barriers and enhancing inter-agency collaboration, the task force will enable exporters to boost their competitiveness in global markets.
This collaborative effort is expected to provide exporters with better access to information, resources, and solutions to optimise their operations, ultimately generating greater export income for the country.
OSL take:
Sri Lanka’s exports sector has been on a steady growth path over the past few years showing resilience even during the global pandemic and the economic crisis faced by the country in the past few years. The many trade agreements as well as trade concessions enjoyed by Sri Lanka with other countries have helped boost the country’s exports sector. The focus of local authorities to further expand trade ties with more foreign countries could further boost opportunities for the local exports sector. These opportunities could increase manifold with the Sri Lankan government’s incentive schemes for businesses entering the exports sector. Among the steps taken to expand Sri Lanka’s exports sector are the many promotional campaigns carried out in foreign markets, including new ones. All these developments show the expanding business/investment opportunities in Sri Lanka’s exports sector and foreign businesses/investors could confidently explore them. Foreign businesses could also look at forming joint ventures or partnerships with local businesses in the exports sector with the aim of expanding operations locally and internationally.
| Article Code : | VBS/AT/20241018/Z_15 |