NCE enters into MOU with Ernst & Young as Knowledge Partner

The National Chamber of Exporters (NCE) has entered into a Memorandum of Understanding (MOU) with Ernst & Young Sri Lanka (EYSL) which is a local and global leader in assurance, tax, accounting and transactions advisory services. EYSL is a part of EY global, with immense exposure, knowledge and expertise in accounting, finance, taxation, and related areas. 

The NCE the only private sector chamber which exclusively serves Sri Lankan exporters and represents them with the relevant state authorities has entered into this knowledge partnership to enhance the skills and capabilities of the chamber and its members in areas of operational efficiency, organisational development, strategic planning, leadership development, strategic expansion, innovation, and design excellence, as well as to assist in organisation wide automation solutions. 

The NCE is currently very active among its members and other Stakeholders in the background of Government initiatives to negotiate several Free Trade Agreements (FTAs), formulation of the National Export Strategy (NES), the National Trade Policy (NTP), the National Single Window for trade transactions, the National Trade Portal, and to derive the benefits under the GSP Schemes of the EU and the USA etc. In this regard the NCE participants in the various Steering Committees set up by the state authorities to represent the views and concerns of its members. For this purpose the NCE has also strengthened its staff resources, and facilitates building their capacity for operational efficiency.  

To fulfil the above object EYSL has already assisted the chamber in preparing its Strategic Plan (2017-2021). For this purpose EYSL has carried out a reassessment of the Vision and Mission of the chamber, its strategic objectives, core values, and has prepared a comprehensive document to guide the future direction and activities of the chamber to facilitate its sustainability, growth, and operational efficiency for the benefit of the exporter community in general, and its member exporters in particular. EYSL has also compiled for the Chamber a comprehensive Operational Manual, to enhance staff performance to provide effective services to its members. 

Another major task that will be carried out by EYSL for the chamber in terms of the MOU, is to provide professional services related to the conduct of the Annual Export Awards which recognises and rewards excellence in exports achieved by Sri Lankan exporters in the international market place. This event has evolved over the years with an increasing number of applicants to achieve national significance. For this purpose EYSL will specifically carry out the compilation of applications received by the chamber from Sri Lankan exporters to compete for annual export awards, to facilitate the judging process. 

Selection of award winners at the annual export awards event of the chamber is carried out by a professional panel of independent judges who are well known experts in their respective fields related to exports. The professional panel of judges is assisted by a separate technical panel of experts in specific fields related to exports to assess applicants, which therefore involves a two stage process for the selection of award winners. The knowledge inputs and expertise provided by EYSL in compiling the applications to facilitate the two stage process serves to further enhance the credibility, transparency, and independence of the selection process, with no involvement of the staff of the Chamber, to benchmark it as a high profile event in the field of exports.

In terms of the MOU, EYSL will also assist the Chamber in upgrading its accounting and management systems to enhance operational efficiency, and in particular to ensure that all financial and accounting procedures of the chamber conforms to Sri Lanka Accounting Standards, and also to ensure conformity in regard to all statutory payments, and obligations, as well as conformity to standards related to the environment. 

The chamber has also established evaluation procedures in respect of all employees in its staff, and has streamlined all operational procedures under the professional guidance and inputs of EYSL, with continuous monitoring.

The Chamber desires the strategic knowledge partnership with EYSL to be long lasting, to face future challenges in the field of exports, to keep abreast of International Standards related to Export Trade Transactions.