Sri Lanka Falls Behind Least Developed Countries in Trade Facilitation: Here are Three Steps it Can Take to Reverse This Trend

Abstract

This note compares progress made by Sri Lanka against its regional competitors, other developing and least developed countries in facilitating trade by making import and export procedures of the country efficient, less costly, and more transparent. The comparison is done by using the notifications on progress made by countries under the World Trade Organisation’s Trade Facilitation Agreement (TFA) as a yardstick. The analysis finds that Sri Lanka’s progress falls below not only its competitors and peers but also the least developed countries. Based on the findings, this note provides three lessons Sri Lanka can learn from the experience of others who performed better.