To be on par with more advanced countries :

SAARC countries should pool resources for trade facilitation

Ramani KANGARAARACHCHI

SAARC countries should pool their resources to introduce a new system of trade facilitation that would be on par with more advanced countries which would take trade towards new heights of development, President, Federation of Chamber of Commerce and Industry Sri Lanka Kosala Wickramanayake told a seminar on “Trade Facilitation, Issues and Constraints in South Asia” at the Hilton Colombo yesterday.

He said that the eight-nation SAARC group of countries lag behind the more advanced nations in trade facilitation and it affects the country’s competitiveness and ability to increase trade.

Though Sri Lanka as a nation has been aware of the importance of adopting a more dynamic attitude towards improving cross border procedures, it needs to do it in association with other countries.

Wickramanayake said that the country must bear in mind its ultimate goals to ensure accelerated internal and external trade in practical terms, facilitate cross border marketing and help the Port of Colombo and other ports as well as airports to move cargo with greater efficiency and speed.

Vice President, SAARC CCI Sri Lanka Nawaz Rajabdeen said that Trade Facilitation: Issues and Constraints in South Asia is of significance as all South Eastern nations have been affected by the lack of an effective mechanism and the process of conducting easy transactions across borders.

He said that there is an all-round effort to improve the situation and hoped the fruits of its efforts will be forthcoming.

It was organized by the SAARC Chamber of Commerce and Industry in collaboration with the FCCISL and supported by the Fredrich Naumann Foundation (FNF).

Minister of International Trade and Export Development Prof G.L. Peiris was the chief guest. President SAARC CCI Tariq Sayeed and Regional Director FNF Dr Rene Klaff also spoke.