According to Sri Lanka's external affairs minister Gamini Lakshman Peiris a single document that harmonises different regulations of South Asian countries for clearing cargo would help boost regional trade.

He told a forum on trade facilitation in Colombo yesterday, that trade among countries of the South Asian region was far below its potential and simplified procedures were needed to increase volumes.

Trade volume within the SAARC region was only five percent of their total trade, compared with 55 percent within the European Union and 22 percent in the (Asean) regional economic bloc.