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Regaining+GSP+%2B+is+a+victory+to+the+entire+nation
Thursday, 12 January 2017 - 7:33
Regaining GSP + is a victory to the entire nation
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Prime Minister Ranil Wickremesinghe states that regaining the GSP plus is a victory for the entire nation.

Issuing a communiqué the Premier stated that GSP plus has been regained as a result of the sacrifices made by the government during the past couple of years.

The European Commission yesterday proposed that a significant part of the remaining import duties on Sri Lankan products should be removed by the European Union in exchange for the country's commitment to ratify and effectively implement 27 international conventions on human rights, labour conditions, protection of the environment and good governance.

These one-way trade preferences would consist of the full removal of duties on 66% of tariff lines, covering a wide array of products including textiles and fisheries.

This arrangement is designed to support developing countries by fostering their economic development through increased trade with Europe and providing incentives to take tangible measures towards sustainable development.

Trade Commissioner Cecilia Malmström said: "GSP+ preferences can make a significant contribution to Sri Lanka's economic development by increasing exports to the EU market.

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