A new and integral step-by-step procedures functionality developed by Sri Lanka’s department of commerce (DoC) was launched in Colombo recently as an enhanced feature of the Sri Lanka Trade Information Portal (SLTIP). The new ‘one-stop-shop’ feature developed within the framework of the European Union (EU)-Sri Lanka Trade Related Assistance project, is expected to benefit Sri Lankan traders.
The development of the feature was funded by the EU with technical support from the International Trade Centre (ITC). It will provide transparent and up-to-date trade-related information in an interactive, user-friendly platform, a press release from the EU said.A new step-by-step procedures functionality developed by Sri Lanka's department of commerce was launched in Colombo as an enhanced feature of the Sri Lanka Trade Information Portal. The new 'one-stop-shop' feature developed within the framework of the European Union (EU)-Sri Lanka Trade Related Assistance project, is expected to benefit Sri Lankan traders.#
Traders will now have easy access to a wealth of information at their fingertips. The functionality captures all trade procedures in a sequential order including the relevant authorities to meet at each step, costs to be incurred, required time, necessary documentation, legal justification and the submission of complaints.
In 2018, the DoC launched the SLTIP to facilitate better trade practices in the country. For over two years, ITC has been working closely with the DoC to enhance the user-friendliness of the SLTIP’s features to meet the demanding pace and compliance of global trade.
This resulted in collaborating with 18 border regulatory agencies in Sri Lanka to collate, validate and detail accurate, certified and up-to-date trade formalities and related regulatory information pertaining to 29 product groups on the new platform.
With such detailed step-by-step guidance, traders can now lower costs and time of doing business when moving goods in and out of the country, conduct their trade operations more efficiently and enhance their international business competitiveness, the press release said.
The new platform awakens insights into existing procedures and measures when conducting trade with Sri Lanka and could be used as a benchmark in considering simplification of border procedures.
All information has been made available in English, Sinhala and Tamil to ensure equal access to all trade stakeholders that have an interest in international trade also with a view to strengthen domestic value chain linkages.
The step-by-step feature was implemented in partnership with the United Nations Conference on Trade and Development (UNCTAD), while further financial support was provided by the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) to enhance the platform and extend the product coverage.
Fibre2Fashion News Desk (DS)
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