Govt. readies National Tariff Policy to boost exports, global competitiveness

Friday, 11 July 2025 02:51 - - {{hitsCtrl.values.hits}}

Trade Secretary K.A. Vimalenthirarajah

Trade Secretary K.A. Vimalenthirarajah says policy aims to shift from fragmented to unified trade decision-making
Extends focus beyond tariff rates to simplifying trade processes, reducing clearance times
Aims to enhance efficiency, consistency and investment attractiveness

Trade, Commerce, Food Security and Cooperative Development Ministry Secretary K.A. Vimalenthirarajah yesterday disclosed that a National Tariff Policy is in the works, which will help eliminate sectoral biases and position Sri Lanka more competitively in the global markets.

“The idea is to move away from fragmented policymaking and adopt a more unified, standards-aligned approach which supports exports and attracts investments,” he told journalists.

He clarified that the policy is not solely focused on tariff rates. “A key part of this negotiation is simplifying trade processes, reducing clearance times, and removing barriers at the institutional level. It is a broader discussion aimed at making Sri Lanka more open and efficient in its trade practices, not just adjusting tax rates.”

Vimalenthiraja said that the broader objective is to offset those disadvantages through better facilitation, consistent policy, and targeted support. “These include lower financing costs, streamlining processes, and encouraging businesses to enter niche markets and build competitiveness through innovation—not just low-cost production,” he added.

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