Office for International Trade; beneficial to country or agenda-driven?

LAST week, SJB MP Dr. Harsha de Silva at a parliamentary debate underscored the necessity of expediting the establishment of the Office for International Trade (OIT), which was ratified by the Economic Transformation Act (ETA) No 45, 2024. According to the legislation, the mandate of the OIT is to promote and develop Sri Lanka’s international trade, coordinate all international trade activities, and facilitate the growth of exports.

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A bone of contention with regard to the role of the proposed institution, however, is that its areas of responsibility overlap the functions of the existing state institutions associated with international trade, including the Department of Commerce (DOC) as well as the EDB.

Despite the NPP’s vehement objections to the contentious legislative enactment a year ago, President Disanayake at this year’s Sri Lanka Economic Summit asserted that his administration was planning to implement the ETA with amendments. The Government has not clearly mentioned whether they would take steps to establish the OIT. Meanwhile, subsequent to the 2024 Presidential Election, K.J. Weerasinghe, who served as Chief Negotiator of the International Trade Office (ITO) — the makeshift predecessor to the OIT during Wickremesinghe presidency — told the press that he was unaware of the new Government's stance on the continuity of the OIT and that he had been asked to continue in his role for the next few months. What happened to Weerasinghe — a retired DG of the DOC ~ as well as his ITO thereafter is unknown.