The move comes as part of Sri Lanka’s commitment to the World Trade Organisation’s (WTO) Trade Facilitation Agreement (TFA), which the country pledged to implement from 2017 through 2030. The TFA is a global accord aimed at reducing barriers to trade and improving the efficiency of cross-border trade procedures.

These initiatives, designed to expedite and streamline the country’s trade processes, were approved by the incumbent Cabinet of Ministers following a proposal by President Ranil Wickremesinghe at their last Cabinet meeting on Friday.

Despite regional progress, Sri Lanka has lagged behind, fulfilling only 37.4% of its total commitments under the TFA, while neighbouring countries have achieved a higher percentage of compliance.