Sri Lanka government has made international trade easy creating more transparent regulatory environment for trade in the country.
Sri Lanka Trade Information Portal developed with the assistance of the World bank now brings together onto one website all the laws, regulations, procedures and other Government requirements regarding trade for the first time.
Almost 900 laws, regulations, procedures and other Government requirements affecting trade have been gathered and uploaded to the portal.
These requirements are maintained by forty-two Government agencies across Sri Lanka, highlighting the complex regulatory environment facing traders.
Along with a searchable database of these regulatory requirements, the website includes videos and how-to guides to make it user-friendly for traders, along with other information on Sri Lanka’s trade environment, including trade agreements.
Experience from other countries highlights the wide reach that can be expected through the Sri Lanka Trade Information Portal.
The World Bank will provide transitional support for the Portal after the launch to help in this effort.
The next step in facilitating trade is to go beyond transparency, to streamlining the process for applying for permits and other approvals required for import and export.
However, the largest initiative by far will be the establishment of a National Single Window for trade which will facilitate traders to lodge standardised information and documents with a single-entry point.
(LI)