SL to ratify WTO Trade Facilitation Agreement

Saturday, 9 January 2016 00:00 - - {{hitsCtrl.values.hits}}

The Government has decided to ratify the Marrakesh Agreement which falls in line with the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA) as maintaining procedures in customs and international trade is important for Sri Lanka to become a naval trade hub.

Cabinet Spokesman Dr. Rajitha Senaratne addressing the weekly Cabinet briefing said that the proposal made by Industry and Commerce Minister Rishad Bathiudeen to ratify the agreement was approved by the Cabinet of Ministers on Wednesday.

The final draft of the TFA, which intended to accelerate and facilitate procedures related to customs clearance and borders relevant to import and export of goods, was adopted in 2013 at the 9th Ministerial Meeting of the WTO in Indonesia. (CDS)