Business

Sri Lanka Customs has launched a new Technical Committee on Rules of Origin (TCRO) to update the country's trade rules and boost transparency in how Rules of Origin are managed, as stated in an official announcement today. This committee is a joint effort between Customs and the Department of Commerce. The formation of this committee meets Sri Lanka's commitments under Article 3 of the WTO Trade Facilitation Agreement, which emphasizes the need for better cooperation and effective management of origin-related processes. The TCRO aims to enhance the national Rules of Origin system, improve cooperation among different agencies, assist importers and exporters with preferential trading options, and align with international standards. The committee is also expected to lower compliance costs, clarify origin rules, and help make better use of Free Trade Agreements, Regional Trade Agreements, and Generalized System of Preferences programs. Officials highlighted that a more robust and transparent Rules of Origin system is vital for increasing trade efficiency, building trust in global supply chains, and ensuring that Sri Lankan exporters can access preferential market opportunities.