The European Union (EU) will give the GSP plus trade concession to Sri Lanka next year, says the country’s government.
Harsha de Silva, Deputy Foreign Minister said that the EU and the Sri Lankan Government are working together to regain the key trade concession. While speaking at an event attended by several garment factory workers and officials of the garment industry, he stated that they were working together with mutual respect to get it done by mid 2016 since they had established a government of good governance with respect for human rights.
A recent technical paper on the ‘World Economy’ showed that the loss of the trade concession had a negative impact, with the worst affected being the low-income workers in the cities, de Silva said.
When the former Government was in power after it failed to meet the criteria to continue as a beneficiary, Sri Lanka had lost the GSP plus trade concession from the EU. The new Government, however, had reapplied for the concession and had made commitments to meet the required criteria.
