News
Verité Research proposes three-step programme to boost Lanka’s trade facilitation and catch up with peers
Independent think-tank, Verité Research, has put forward a comprehensive three-step programme for Sri Lanka to enhance its trade facilitation efforts and close the gap with its peers, as it currently ranks 104th out of 125 developing and least developed countries (LDCs).
According to a new study by Verité Research, Sri Lanka’s progress in trade facilitation has been slow, with only marginal improvement from a rate of 29% in 2017 to 31.5% in June 2023. In comparison, 21 out of 35 LDCs have a higher rate of implementation, indicating the need for immediate action.
One of the key issues identified in the study is Sri Lanka’s claim that it lacks the capacity to implement over 69.3% of trade facilitation measures without external assistance. In contrast, other developing countries and LDCs on average require external assistance for only 21.7% and 40% of trade facilitation measures, respectively.
Verité Research’s proposed three-step programme urges Sri Lanka to take ownership of its trade facilitation measures without waiting for external help. The country should promptly publish information on trade procedures, taxes, and fees in a non-discriminatory and easily accessible manner to improve its standing and attract traders and investors.
The second step involves providing high-level leadership to overcome resistance from government agencies and allocate necessary resources to facilitate trade implementation. Comparatively, countries like Vietnam, India, and Bangladesh, which have made better progress than Sri Lanka, have established robust National Trade Facilitation Committees chaired by key officials, enabling efficient decision-making.
The third and final step focuses on transparency and accountability. Verité Research recommends publishing a comprehensive trade facilitation action plan and implementing a monitoring mechanism to track and report progress. India’s successful approach, with a publicly accessible trade facilitation action plan and a well-established monitoring system, has resulted in full implementation of all WTO TFA measures and additional trade facilitation initiatives.
By adopting these three steps, Sri Lanka can improve its trade facilitation performance, outperform LDCs, and catch up with its regional competitors and other developing nations. The recommendations aim to bolster Sri Lanka’s position as a trade-friendly nation and attract increased investment and business opportunities.
A meeting between President Anura Kumara Disanayake and Admiral Samuel J. Paparo, the Commander of the United States Indo-Pacific Command (INDOPACOM), was held today (21) at the Presidential Secretariat.
During the discussion, Admiral Paparo extended his best wishes to President Disanayake and the new government on their planned initiatives. He also acknowledged Sri Lanka’s continued support in ensuring the security of the Indian Ocean region and maintaining a peaceful maritime environment.
Furthermore, Admiral Paparo reaffirmed the United States’ commitment to strengthening the enduring bilateral ties between the two nations and expressed support for Sri Lanka’s new governmental policies.
President Disanayake conveyed his appreciation for the assistance provided by the United States in enhancing human resources within Sri Lanka’s defence sector. The President also acknowledged the longstanding support extended by the U.S. in this regard.
Minister of Foreign Affairs Vijitha Herath, Senior Additional Secretary to the President Roshan Gamage, U.S. Ambassador to Sri Lanka Julie Chung, Lieutenant Colonel Anthony C. Nelson of the U.S. Army, and Senior Foreign Policy Advisor to the United States Indo-Pacific Command David Ranz were also present at the meeting.
SriLankan Airlines has announced that SriLankan Airlines flights UL 503 (Colombo to London Heathrow), scheduled to depart at 12:50 hrs and UL 504 (London Heathrow to Colombo), scheduled to depart at 20:40 hrs today [21 March 2025], have been cancelled.
Passengers requiring assistance are encouraged to contact the SriLankan Airlines Customer Centre at 1979 (within Sri Lanka), +94117 77 1979 (international) or +94744 44 1979 (WhatsApp chat) or reach out to their nearest SriLankan Airlines office or their travel agent.
The United Kingdom’s Heathrow airport has closed until midnight on Friday due to a power outage, throwing the plans of tens of thousands of travellers into chaos.
London’s main airport, which is Europe’s busiest gateway, said on Friday that it had suffered a “significant” power failure due to a fire at an electrical substation supplying the facility.
“To maintain the safety of our passengers and colleagues, Heathrow will be closed until 23h59 on 21 March,” Heathrow airport said in a post on X.
“Passengers are advised not to travel to the airport and should contact their airline for further information. We apologise for the inconvenience.”
Flight tracking website FlightRadar24 said the shutdown would affect “at least” 1,351 flights.
“We’re trying to stop passengers from travelling to the airport, and then work with airline partners on flights that are delayed, diverted, or cancelled,” a Heathrow spokesperson told Al Jazeera. “Passengers can reach out to airline partners to work on rebooking.”
Al Jazeera’s Jonah Hull, reporting from London, said the roads leading to the airport were blocked, causing “traffic chaos locally”.
“But local traffic disruption is nothing compared to the air traffic disruptions that will be spreading around the world,” he said.
Heathrow is one of the most globally connected airports and regularly ranks among the top five busiest gateways worldwide.
The airport serves more than 200 destinations in nearly 90 different countries and territories, and last year handled nearly 84 million passengers, the largest number on record.
[Aljazeera]
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