COLOMBO, Dec. 15 (Xinhua) -- Sri Lanka Customs has inaugurated a Technical Committee on Rules of Origin (TCRO) in a bid to modernize the country's trade governance and improve transparency in the administration of Rules of Origin, read an official announcement released Monday.
According to the announcement from the Sri Lanka Customs, the committee is co-established by the customs and the Department of Commerce. Its establishment fulfils Sri Lanka's obligations under Article 3 of the WTO Trade Facilitation Agreement, which calls for greater cooperation and efficient administration of origin-related procedures.
The TCRO's mandate is to strengthen the national Rules of Origin framework, improve coordination between agencies, support importers and exporters using preferential trading arrangements, and promote harmonization with international standards.
The committee is expected to help reduce compliance costs, clarify origin requirements, and contribute to more effective use of Free Trade Agreements, Regional Trade Agreements, and Generalized System of Preferences schemes.
Authorities noted that a stronger and more transparent Rules of Origin system is important for improving trade efficiency, enhancing credibility in global value chains, and securing preferential market access for Sri Lankan exporters. ■
