Sep 21, 2017

Sri Lanka reviews tariffs to boost trade

Sri Lanka’s trade regime is to be reviewed to boost trade and private sector development, and reduce costs and bolster competitiveness.

A key element in this work would be an evaluation of para-tariffs and other non tariff barriers that have led to a high level of effective protection and hampered exports.
 
The government is working with the World Bank to strengthen the country’s structural competitiveness.

The aim is to increase the efficiency of trade facilitation, remove barriers to foreign investment entry and establishment (including access to land), enhance access to finance, and strengthen financial market infrastructure.

These steps should help attract FDI and complement public investment, officials said.

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