The Cabinet has approved a proposal by President Ranil Wickremesinghe to adopt a roadmap and implement an action plan to expedite the country’s trade facilitation commitments in line with its commitments under the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) said Cabinet spokesman and Transport, Highways and Media Minister Dr. Bandula Gunawardhana.
He was addressing a press conference at the Government Information Department yesterday.
Dr. Gunawardhana said that this will be a critical step in addressing the delays in fulfilling Sri Lanka’s commitments under the WTO’s Trade Facilitation Agreement (TFA).
He said that in 2016, the Cabinet approved the setting up of a National Trade Facilitation Committee to support the implementation of the World Trade Organization’s Trade Facilitation Agreement and coordinate the efforts of various institutions to meet 36 specific obligations. Despite Sri Lanka committing to a trade facilitation plan from 2017 to 2030, the country has only completed 37.4 percent of that obligation, lagging behind its regional peers, the Minister said.
In response, the Government has developed the “Roadmap for Trade Facilitation in Sri Lanka” and a “Trade Facilitation Action Plan 2025-2028,” drawing on the expertise of over 200 public and private stakeholders, he said.
The Cabinet decision follows requests for technical assistance from the Japan International Cooperation Agency (JICA) and the International Trade Centre (ITC) to provide independent recommendations to prioritise and speed up key initiatives, said Dr. Gunawadhana. These measures are aimed at bringing Sri Lanka to the level of its regional counterparts and ensuring the timely implementation of priority activities, he said. With the approval of this roadmap and action plan, the Government is now focused on accelerating the progress to meet its trade facilitation commitments, he added.
