Reducing barriers for export to SAARC countries

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), the Secretariat dealing with SAARC Chamber of Commerce and Industry (SCCI), wants to minimize any trade barriers with other SAARC countries.

Hildon U. Hamangoda, Director, SAARC and International Affairs, FCCISL, said that according to compiled data trade among SAARC countries is less than five percent of the total trade of the region with the rest of the world. But other regional blocs are showing much bigger volumes of intra-regional trade. For instance the North America Free Trade Agreement intra-regional trade is over 50% and ASEAN countries have over 20% trade among its member countries. The Intra-SAARC trade is dismally low as compared to other regions. The trade and economic activity needs to be increased.

Hamangoda said, keeping in mind the current state of trade in SAARC member countries, SCCI has decided to identify specific obstacles which are holding back and restricting trade among SAARC countries in bilateral as well as regional trade e.g. “restrictions in the cross-border movement of goods, lack of infrastructure, non-acceptability of standards and certifications regime etc.”