NCE conducts training seminar on “Commercial Hub Regulation of Sri Lanka and the free-port concept”

Monday, 4 November 2013 00:00 - - {{hitsCtrl.values.hits}}

The NCE which is the only private sector chamber serving exporters regularly conducts training seminars and workshops on export related topics which are beneficial to exporters, including those which relate to current developments in the field of exports. These training events are open to member exporters of the chamber as well as non-members.

On 30 October, 2013 the chamber conducted a training seminar on the above topic in the auditorium of the chamber. It was conducted in collaboration with the Colombo International Nautical and Engineering College (CINEC) which is an accredited provider of training in the field of shipping and logistics. CINEC is also the training partner of the NCE. The following main aspects were covered in the training seminar: n Entreport trade involving imports (minor processing) and exports. n Offshore business where goods can be procured from one country (or manufactured in one country) and shipped to another country without entering Sri Lanka. n Provision of front end services to overseas clients. Operation of headquarters of leading buyers for the management of finance supply chains and billing operations. n Logistic services related to bonded warehouses, or operation of multi country consolidation. The training seminar also included dissemination of information on the operational procedures of the Asycuda World System for the facilitation of online transactions related to imports and exports, as well as arrangements made for online payments through the Bank of Ceylon and the People’s Bank.

These measures which will also entail the exclusion of panel examinations of cargo hitherto undertaken, is scheduled to come into effect from 4 November 2014. Further, these measures while greatly facilitating the convenience of transactions of exporters will also enable reduction of the cost of export transactions. Senior officials from the Board of Investment, the Sri Lanka Ports Authority and the Sri Lanka Customs which are the state organisations involved in the implementation of the commercial hub regulations and the free port concept were the resource persons. The training seminar has been highly commended by the participants in view of the information and knowledge they were able to gather, which will be of immense benefit to their export enterprises.