The National Chamber of Commerce of Sri Lanka (NCCSL) has congratulated the Government for regaining of the GSP plus facility once again.
“The GSP plus facility will raise the economy to greater heights with increased exports to EU countries. The opportunities for Sri Lankan economy would expand tremendously for garments, apparel, fishing sector and other sectors as well.
Regaining GSP from the EU will be a big step for the new government which managed to negotiate the removal of the fisheries ban imposed by the EU as well,” NCCSL President Sujeeva Samaraweera said.
The EU’s ‘Generalized Scheme of Preferences’ or GSP allows developing countries to pay less or no duties on their exports to the EU and gives them vital access to EU markets and contributes to their economic growth.The scheme will bring benefit to over 66 product categories from Sri Lanka which can enter the EU market.
Meanwhile, Deputy Foreign Minister Harsha De Silva said Sri Lanka needs to make the regaining of GSP+ a foundation to sign an FTA with the EU because the facility will be granted for a few years.
“The significance of regaining GSP+ is in making it a stepping stone to enter into an FTA with the EU. I see this as the first step in a two-step process,”
“Brexit is going to impact our exports, he said adding that that disadvantage will come into effect in another two years , as a result Sri Lanka needs to enter into a new trade agreement with the UK.(IH)
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