The Cabinet of Ministers has approved the submission of the Import and Export (Control) Regulations No. 7 of 2024 and the accompanying Standardization and Quality Control Regulations to the Parliament of Sri Lanka. These regulations, issued under the Import and Export (Control) Act No. 1 of 1969, aim to enhance the regulatory framework governing the country's import and export activities.

The new regulations introduce controlled import measures, including the import of motor vehicles for tourism purposes, which follows the temporary suspension on motor vehicle imports as outlined in the Import and Export (Control) Regulations No. 2 of 2023. Specifically, the Cabinet has approved the import of 250 small buses and 750 vans for tourism, a move proposed by the Minister of Tourism and Lands to support and boost the tourism sector.

The Cabinet approved new regulations on March 11, designed to promote efficient and safe trade transport while ensuring fair opportunities for both local and non-domestic products. These regulations have been published in an extraordinary gazette to facilitate a more balanced and effective trade environment.

The proposal for these new regulations was presented by the President, acting in his capacity as the Minister of Finance, Economic Stabilization, and National Policies.