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Leading News from Sri Lanka ::
Sept 30, Colombo: The European Union is scheduled to hold discussions on the 15th of October to reach a decision on extending the Generalised System of Preferences Plus (GSP+) trade concession to Sri Lanka.
The EU Council will vote upon the decision before a final conclusion is made by the end of this year.
EU's GSP+ tariff concession allows Sri Lanka to sell over 7,000 products to the EU countries tax-frees. Sri Lanka's garment industry, which provides direct employment for more than 270,000 workers, benefits most from the facility.
It has been reported that the Sri Lankan Embassy in Brussels is working on behalf of the government to secure the trade concession.
The government, responding to the initial investigation by the EU, recently submitted a report, prepared by a four member ministerial committee to the EU in Brussels.
The EU last year extended the Generalised System of Preferences, known as GSP+ facility for around 6,400 tariff lines, from January 1, 2009 to the end of 2011, subjected to the findings of inquiries being conducted by the EU on the implementation of certain UN and ILO conventions.
A Reuters report on Tuesday citing diplomats said the European Union is likely to let Sri Lanka keep the GSP+ facility, while recommending it be revoked if the country does not improve its human rights record.
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