Press briefing of Cabinet Decision taken on 2017-08-01

New Trade Policy of Sri Lanka

- Due to the absence of a Trade Policy prepared with a constructive and formal methodology and a clear vision, the formulation of conflicting laws and regulations from time to time has created adverse effects on the expansion of trade in the country. Therefore, in the backdrop of trade and investment being given high priority, the formulation of a new Trade Policy is essential. Accordingly, the preliminary draft of the new Trade Policy of Sri Lanka has been prepared by a Committee comprising of the experts in the relevant sectors focusing attention on the main objectives of increasing competitiveness, expanding the market access, providing trade facilitation, the macro economic balance creating policy and institutional coherence, providing facilities required for the small and medium scale entrepreneurs who could be affected, to face the competition and ensuring the benefits of trade to be enjoyed by all parties.

Accordingly, the proposal made by Hon. Malik Samarawickrema, the Minister of Development Strategies and International Trade, to adopt the proposed Trade Policy and for ensuring the implementation of the policy measures contained therein, by all relevant institutions, was approved by the Cabinet.