Press briefing of Cabinet Decision taken on 2021-11-15

Agreement on Cooperation and Mutual Administrative Assistance in Customs Matters between Sri Lanka and Russia

- Following a series of bilateral discussions conducted between the Government of Sri Lanka and the Government of Russia, the two countries are in agreement to enter into a bilateral agreement to facilitate legitimate trade through transparent and predictable customs procedures. The proposed agreement would envisage the reduction of trade transaction cost, accurate valuation and collection of border taxes, ensure enforcement of regulation on prohibitions, restrictions and control of movement of restricted goods. Accordingly, the proposal made by the Minister of Finance, to sign the proposed agreement between the two parties, was approved by the Cabinet.