Digital signatures to fast track trade | Sunday Observer

Digital signatures to fast track trade

Sri Lanka will be able to fast track trade transactions with the introduction of e-signatures which will be known as digital signatures.

“We are in the process of obtaining the approval for the digital signature from the Attorney General.

When the regulations are ready we will immediately launch the paperless process for the 47 companies that are listed as green channel companies,” a senior Custom official said.

The digital signature will enable trade to take place much more effectively and efficiency while supporting the speed of the transactions.

This will also improve the competitiveness of trade and streamline the process, he said at a seminar on Online Payments, e-Documents with e-Signatures for better and faster trade facilitation in Colombo last week.

The government has taken 36 types of measures to ensure that each measure is technically supported and have the base documents. Sri Lanka started implementing the online payment system with LankaClear.

The project is ongoing at present and this will be further enhanced to facilitate faster trade among the potential customers, he said.

“We seek approval to fast track the trade process and will soon start the trial run. There will be 50 odd regional customers.

The initial program will start shortly and the trade will become a smooth process thereafter,” he said.

This will be a landmark in cross border trade. We have a system to comply in order to fast track the regional facility, he added.