ITC’s new electronic system cuts down processing time of ‘Certificate of Origin’ by 94%

31 March 2023 04:30 am 0 Bookmark

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Sri Lankan exporters will be able to obtain the ‘Country of Origin’ certification much faster with the International Trade Center (ITC) presenting to the Ministry of Trade and Commerce a new electronic system for the same.

Implemented by the Department of Commerce (DoC), the new electronic certificate of origin system is a fully digital solution that would help improve trade by simplifying and significantly accelerating the issuance of Preferential Certificates of Origin, which are crucial in determining the origin of goods and their eligibility for preferential treatment under all trade agreements.

With the system, on 27 March the DoC went fully digital under the India-Sri Lanka Free Trade Agreement. The system was presented to Minister of Trade, Commerce and Food Security Nalin Fernando by the ITC team led by Programme Manager and Trade Facilitation Advisor Raghad Altalli.

According to the ITC, the new system cuts down the time required to obtain a Country of Origin certificate by 94 percent, bringing the total processing time to 30 minutes.

The electronic system also eliminates all processing costs, making it a highly efficient and cost-effective solution for exporters, who no longer need to travel to the DoC or banks and can complete the process online without printing any documents.

The electronic certificate of origin system was developed in response to the challenges posed by the Covid-19 pandemic, subsequent economic crisis, and fuel crisis, which made it difficult for exporters to travel and be physically present at the DoC for documentation purposes.

The innovative solution will enable Sri Lankan exporters to obtain Certificate of Origin without any hassle, saving them considerable time and money, the ITC said in a statement to the media.

In addition to the electronic certificate of origin system, ITC and Deutsche Gesellschaft for Internationale Zusammenarbeit (GIZ) are working with the Export Development Board (EDB), the National Plant Quarantine Service (NPQS), and the National Trade Facilitation Committee (NTFC) to automate processes, develop new systems, issue certifications and implement ePayment gateways.

The Trade Facilitation for SMEs project will continue to support and empower SMEs to increase their participation in international trade and strengthen Sri Lanka’s economy.

<img src="https://bmkltsly13vb.compat.objectstorage.ap-singapore-1.oraclecloud.com/cdn.sg.dailymirror.lk/assets/uploads/image_65e2ea5164.jpg" style="margin: 10px;" /> Sri Lankan exporters will be able to obtain the ‘Country of Origin’ certification much faster with the International Trade Center (ITC) presenting to the Ministry of Trade and Commerce a new electronic system for the same. Implemented by the Department of Commerce (DoC), the new electronic certificate of origin system is a fully digital solution that would help improve trade by simplifying and significantly accelerating the issuance of Preferential Certificates of Origin, which are crucial in determining the origin of goods and their eligibility for preferential treatment under all trade agreements.<center><a href="https://www.hi.lk/himag" target="_blank"><img src="https://bmkltsly13vb.compat.objectstorage.ap-singapore-1.oraclecloud.com/cdn.sg.dailymirror.lk/assets/uploads/advr_7fec3b236e.jpg" /></a></center> With the system, on 27 March the DoC went fully digital under the India-Sri Lanka Free Trade Agreement. The system was presented to Minister of Trade, Commerce and Food Security Nalin Fernando by the ITC team led by Programme Manager and Trade Facilitation Advisor Raghad Altalli. According to the ITC, the new system cuts down the time required to obtain a Country of Origin certificate by 94 percent, bringing the total processing time to 30 minutes.  The electronic system also eliminates all processing costs, making it a highly efficient and cost-effective solution for exporters, who no longer need to travel to the DoC or banks and can complete the process online without printing any documents. The electronic certificate of origin system was developed in response to the challenges posed by the Covid-19 pandemic, subsequent economic crisis, and fuel crisis, which made it difficult for exporters to travel and be physically present at the DoC for documentation purposes.  The innovative solution will enable Sri Lankan exporters to obtain Certificate of Origin without any hassle, saving them considerable time and money, the ITC said in a statement to the media.  In addition to the electronic certificate of origin system, ITC and Deutsche Gesellschaft for Internationale Zusammenarbeit (GIZ) are working with the Export Development Board (EDB), the National Plant Quarantine Service (NPQS), and the National Trade Facilitation Committee (NTFC) to automate processes, develop new systems, issue certifications and implement ePayment gateways.  The Trade Facilitation for SMEs project will continue to support and empower SMEs to increase their participation in international trade and strengthen Sri Lanka’s economy.

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