The International Trade Centre (ITC), in partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ Sri Lanka) unveiled a transformative suite of digital platforms poised to revolutionize the landscape for Sri Lankan SMEs engaged in international trade which was launched by President Ranil Wickremesinghe in Colombo.
The four game-changing systems are set to empower SMEs to soar to new heights of success and competitiveness in the global market. They include the e-Certificate of Origin (e-CoO) System at the Department of Commerce (DoC), the Electronic Payment Gateway at the National Plant Quarantine Service (NPQS) of the Ministry of Agriculture, the digitalization of the Registration and Monitoring of Organic Agriculture-Related Stakeholders at the National Organic Control Unit (NOCU), and the Development of a Progress Monitoring Tool for the National Trade Facilitation Committee (NTFC).
The fully digitalized e-CoO system streamlines the issuance of Preferential Certificates of Origin, crucial for establishing goods’ origin and eligibility for trade agreement benefits.
The system remarkably reduces the CoO issuance time by 93%, with the processing time reduced to just 30 minutes, which saves considerable costs and lowers the carbon footprint, fostering an eco-friendly trade by obviating multiple trips and paper documentation. The e-Payment Gateway at the NPQS offers traders convenient and secure payment options, enabling swift transactions from any location.
This advancement leads to an impressive 94% time savings for businesses, eliminating the need for time-consuming in-person payments.
The NOCU’s digital Registration and Monitoring system streamlines organic stakeholder registration and certification, ensuring smooth compliance and supply chain continuity.
This platform empowers stakeholders to effortlessly register and monitor certifications online, saving 96% of their time and approximately LKR 50,000 per registration.
The Progress Reporting and Monitoring Tool for the NTFC tracks trade reforms in real time, aiding strategic decisions.