USAID Backs Sri Lanka’s Efforts to Boost Exports and Improve Trade Efficiency
July 11, Colombo (LNW): The United States, as Sri Lanka’s largest export market, continues to support efforts to enhance exports and improve the efficiency of businesses and government agencies. Gabriel Grau, USAID Mission Director for Sri Lanka and Maldives, highlighted the commitment to initiatives like the Trade National Single Window System (TNSWS) which aims to make trade more transparent and predictable, thus easing business challenges.
Through the United States Agency for International Development (USAID), the U.S. is assisting the Sri Lankan Ministry of Finance in modernizing the country’s trade facilitation infrastructure with the implementation of TNSWS. This system, once operational, will streamline the collection of trade-related information, increasing transparency, efficiency, reducing costs, and potentially boosting revenue.
As part of this ongoing collaboration, the Department of Trade and Investment Policy of the Ministry of Finance, Economic Stabilization, and National Policies, with support from USAID, recently conducted a workshop for 94 key TNSWS project stakeholders. This interactive workshop enhanced participants’ understanding of the single window system and its benefits, while fostering collaboration and sustainability in its implementation.
K. M. Mahinda Siriwardana, Secretary to the Ministry of Finance, emphasized the importance of the TNSWS in boosting trade competitiveness and supporting export growth, which are crucial for Sri Lanka’s economic recovery.
The implementation of TNSWS is a requirement under the World Trade Organization Trade Facilitation Agreement, which Sri Lanka signed in 2017. The project received cabinet approval in 2022, and over the past year, the United States has provided technical assistance to help establish a Project Implementation Unit to lead the TNSWS project.
