The GSP Plus tariff concession regained by Sri Lanka from the European Union will become effective from this Friday(19) European Union Ambassador to Sri Lanka and Maldives Tung Lai Margue has been announced this morning(16).Accordingly Sri Lankan Products including Garments will be able to export to the European Union countries under 66% tariff concession.
No condition has applied when granting the once suspended GSP Plus concession to Sri Lanka again and only considered the progress made by Sri Lanka under the current regime in the fields of human rights,Environment Security and Labour relations as well as the progress achieved when implementing 27 international conventions relevant to good governance the European Union Ambassador has stated .
Due to the regaining of GSP Plus concession the production and the export sectors in the country are expect a record growth according to the government.
European Union has suspended the granting of GSP Plus concession to Sri Lanka during the previous regime.
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