‘Import-Export Trade of Sri Lanka’ – A review

Monday, 8 December 2014 00:00 - - {{hitsCtrl.values.hits}}

The publication entitled ‘Import-Export Trade of Sri Lanka’ is the third volume of the ‘Customs Law Manual of Sri Lanka’, published in 2009 by P. Weerasekera and T. Kananathaligam who were at the helm of Sri Lanka Customs sometime back.

The present volume, in addition to being an update of the first two volumes, carries much new material which would be invaluable for all stakeholders in the field of foreign trade which include banks and professionals in tax and licence control, etc. While the first two volumes focused more on customs law and procedures, this volume covers areas such as import licensing and procedures, quality control measures, BIO regulations, standardisation and commercial hub trading operations. The comments and notes made by the co-authors add to the value of this volume. The text of the updated Imports and Exports Control Act reproduced in this volume covers guidelines and procedural requirements for importation of products such as cosmetics, narcotics, food items, plant and plant material, etc. The new scheme of special import licensing and payments regulations (SILP) replacing the Special Import Licensing Scheme of 1977, the schedule of items covered under the Scheme, gazetted regulations of the BOI, the Customs Exports Tariff and EDB Cesses on exports included in this publication would be invaluable to those who prefer printed documents to a website. Legislative and procedural measures laid down by various statutory authorities which lay hidden and beyond the reach of many; the texts of unreported judicial decisions since the publication of the earlier volumes, and the new appellate procedure available to parties adversely affected by customs penal decisions are among the useful material that have been accommodated within the covers of this volume. The co-authors deserve the commendation of all stakeholders in international trade logistics for their excellent handbook.