In this context, the operationalization of the Trade Facilitation Agreement (TFA) would simplify international import and export procedures for the SMEs. This was stated by Libuse Soukupova, First Secretary, Head of Cooperation, EU Office in Colombo on Wednesday while addressing the opening ceremony of the two day workshop on Trade Facilitation Implementation Plan: Prioritization and Way Forward held in Colombo. A Rs 1.4 billion project to support Sri Lankan government in implementing its commitments made under the Trade Facilitation Agreement, is to boost Sri Lankan trade. The National Trade Facilitation Committee (NTFC) in collaboration with the International Trade Centre (ITC) and the World Bank convened this 2-day workshop. He asserted that FTA would increase possibilities for SMEs to participate in global value chains and optimize the country’s chances of increasing the export revenue, rapidly, through international trade.

Source: Sunday Times October 12, 2017 03:00 UTC