Cabinet seeks parliamentary nod for tighter import-export controls

The Cabinet has approved a proposal to seek parliamentary approval for new import and export regulations aimed at protecting local industries and strengthening monitoring of prepayment-based international trade, Minister Nalinda Jayatissa said.

The proposed regulations require goods imported under the prepayment system, an approved method of international trade payments, to be brought into Sri Lanka within 180, 365 or 730 days from the date of payment.

The Government has already introduced measures requiring exporters of certain scrap metal products, metal replicas and metal scraps to obtain export control licences to prevent the illegal export of such items.

The decision was implemented through the publication of the Import and Export (Control) Regulations No. 05 of 2026 in Extraordinary Gazette Notification No. 2493/03 dated June 15, 2026.

Meanwhile, the Import and Export (Control) Regulations No. 06 of 2026, published through Extraordinary Gazette Notification No. 2493/39 dated June 18, 2026, amended the Special Import Licence and Payment Regulations by introducing provisions to ensure that goods imported under the prepayment system arrive within the stipulated timeframes.

Minister Jayatissa said the gazetted regulations would now be presented to Parliament for approval.