Start of Sri Lanka’s Trade National Single Window System project

Monday, 15 July 2024 01:08 - - {{hitsCtrl.values.hits}}

Finance, Economic Stabilisation and National Policies Ministry Secretary K.M. Mahinda Siriwardana

Finance, Economic Stabilisation and National Policies Ministry Department of Trade and Investment Policy Director General K.A. Vimalenthirarajah

USAID Mission Director for Sri Lanka and Maldives Gabriel Grau

Ninety four participants who would play key roles in the process of establishment and operationalisation of the proposed Sri Lanka’s Trade National Single Window System (TNSWS) recently attended an awareness-building event conducted by the Department of Trade and Investment Policy of the Ministry of Finance, Economic Stabilisation and National Policies with support from the United States Agency for International Development (USAID).

This is a key step in Sri Lanka’s implementation of a TNSWS – an electronic system to submit standardised information and documentation for all import, export, and transit-related regulatory requirements at a single point of entry. Adoption of the TNSWS is an obligation under the World Trade Organisation Trade Facilitation Agreement, which Sri Lanka ratified in 2017. In 2022, the Sri Lankan Cabinet approved the implementation of the TNSWS project.

Finance, Economic Stabilisation and National Policies Ministry Secretary K.M. Mahinda Siriwardana emphasised the importance of this initiative and stated, “The establishment of a trade national single window system is a timely initiative as the country is recovering from an unprecedented economic crisis. TNSWS is a critical component of a country’s trade facilitation architecture. Reforms such as TNSWS will play a critical role in sustaining economic stability by increasing trade competitiveness and improving export-led growth.”

Finance, Economic Stabilisation and National Policies Ministry Department of Trade and Investment Policy Director General K.A. Vimalenthirarajah said: “The Trade National Single Window System is a complex trade-centric endeavor that essentially requires a close collaborative effort of the public, private sectors, and development partners.”

USAID Mission Director for Sri Lanka and Maldives Gabriel Grau said: “As a development partner committed to Sri Lanka’s macroeconomic stability for more than 75 years, the United States supports initiatives that will help boost export growth and reduce the trade deficit. Our support to the preliminary phase of the TNSWS solidifies this commitment by easing the barriers for businesses to participate in international trade.”

The awareness-building program provided a platform for participants representing the TNSWS High-level Steering Committee, National Trade Facilitation Committee, TNSWS implementing government agencies, business chambers, industry associations, commercial banks, think tanks and other relevant government and private sector organisations to increase the understanding of the single window concept and its benefits, its implementation, ownership, consensus, sustainability and collective action required.

TSNWS will help traders to streamline procedures, increase transparency and predictability, reduce costs, and improve the business environment. For the government, it translates into increased revenue, improved compliance and security, and enhanced resource-use efficiency.

Over the past year, USAID has provided technical assistance to the Government of Sri Lanka to establish a Project Implementation Unit (PIU) for Sri Lanka’s TNSWS. The PIU will lead the implementation of this important project.