CCC book on Sri Lanka’s trade regulations

Local importers and exporters can now have access to a book, which consists of all the regulations governing the country’s imports and exports.

The new book, published under the title of “Sri Lanka Trade Regulations - Index of Regulations relating to Imports and Exports” was compiled by Verite Research, Sri Lanka and promoted by the Ceylon Chamber of Commerce (CCC).

“At present, there is no single location/publication where traders can access all the regulations governing international trade. The joint exercise by the Chamber and the Verite Research is aimed at assisting traders by collecting information about all regulations governing trade and presenting it in a single location, in a userfriendly manner,” a chamber media release said.

Currently, there are 23 legislative Acts implementing measures relating to international trade, and 19 government agencies implementing regulations that impact international trade. In addition to this, these regulations are frequently revised and new measures are continuously being implemented. Failure to follow the measures in the relevant regulations, due to lack of knowledge or otherwise, could result in the outright rejection of the particular transaction, undue delay and can increase the cost of trading, the chamber said.