Global trade is entering a period of turmoil that is likely to be more acute and more challenging than during the Covid-19 pandemic five years ago. Smaller economies like Sri Lanka that depend on international markets and who have benefited from a relatively predictable international trading system, will be worst affected. Sri Lanka’s trade and competitiveness reforms remain perpetually an ‘unfinished agenda’. In this context, CSF’s latest Policy Note outlines eight (8) key trade and competitiveness reforms and strategic initiatives that Sri Lanka must now prioritize, to build resilience and success. In it, we highlight the priority reform area or strategic initiative, along with recapping previous efforts to advance it, and flagging some salient features and lessons to bear in mind as they are re-prioritized today. The insights in this Policy Note are based on CSF research as well as the authors’ own insights and experiences engaging in these policy issues at national level.

Download and read the Policy Note here

The eight (8) Priority Areas are:

1) Doubling down on tariff and para-tariff liberalization;

2) Designing credible trade adjustment support;

3) Implementing a focused National Export Strategy;

4) Deepening and widening trade partnerships;

5) Enhancing trade negotiation capacity and private-public consultation;

6) Rethinking strategic international engagement;

7) Advancing commercial diplomacy;

8) Accelerating trade facilitation.