'One TRADE' Digital System to Streamline Import and Export Operations

COLOMBO (News 1st): A gazette notification has been issued introducing a new digital framework to streamline Sri Lanka's import, export, and trade operations.

It was issued by the Minister of Digital Economy, President Anura Kumara Dissanayake.

The new regulations have been approved under the Electronic Transactions Act No. 19 of 2006.

Through these new orders, the National Single Window electronic information system known as "One TRADE" will be officially launched.

"GovTech Sri Lanka (Pvt) Ltd," a government-affiliated entity, has been appointed as the authorized operator of the system.

This will allow importers, exporters, and trade regulatory bodies to exchange their documents and data securely and quickly through a single digital portal.

It is stated that any electronic record or document submitted through the "One TRADE" system will hold full legal validity and effect, equal to that of traditional paper documents.

The gazette notification states that this regulatory framework will strictly apply to transactions arising during the import, export, or online transit of trade goods.

This provides the legal provisions for the relevant regulatory agencies to inspect, approve, or reject documents received via electronic means.

It is further noted that this digital framework is scheduled to be implemented expeditiously for specific products and goods controlled under trade regulatory bodies, including the Sri Lanka Tea Board.