Business

Sri Lanka Trade Information Portal: Step-by-step trade procedure functionality launched

Minister of Trade Dr. Bandula Gunawardana

The step-by-step trade procedure functionality of the Sri Lanka Trade Information Portal (SLTIP), which could enhance Sri Lankan exports to the European Union (EU), was officially launched earlier this month. 

The SLTIP is currently housed at the Department of Commerce (DoC), the initial work of which was carried out with the support of the World Bank and Australia Aid. As a complement to the SLTIP, ITC, with the concurrence of the DoC, has embedded the step-by-step procedure functionality, mapping out the import and export procedures of selected products to make it more user friendly. 

The technical support for this activity was provided within the framework of the EU-Sri Lanka Trade-Related Assistance Project, implemented by ITC and funded by the EU. ITC developed the functionality in partnership with the United Nations Conference on Trade and Development (UNCTAD). The Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) also provided further support to extend the product coverage accessibility, taking into account the interest of the traders. 

Ambassador of the Delegation to the EU to Sri Lanka and the Maldives Denis Chaibi

During the launch, Minister of Trade Dr. Bandula Gunawardana stated that this would alleviate the time and the money spent on related bureaucratic work. 

Meanwhile, Ambassador of the Delegation to the EU to Sri Lanka and the Maldives Denis Chaibi during the event highlighted the importance of the EU market for Sri Lanka’s exports. 

“The EU has stringent standards. If Sri Lanka is ready to export to the EU, it means it is ready to export to any other market also,” he added, stating that he believes that this portal would help Sri Lanka to comply with required EU standards. 

The EU-Sri Lanka Trade-Related Assistance Project aims to increase the trade competitiveness of small and medium-sized enterprises (SMEs) in regional and EU markets. The four-year EU-funded project worth € 8 million, contributes to inclusive trade-led growth and regional integration. It supports SME export competitiveness and value addition in sectors with high potential for economic growth and development.