Jan 11, Colombo: Sri Lanka's Prime Minister Ranil Wickremesinghe happily announcing the European Commission's decision to grant the Generalized System of Preferences Plus (GSP+) facility to Sri Lanka said the recovery of the tariff concession is a result of unity government's efforts in the past two years.
The Premier issuing a special statement said the recovery of the GSP+ facility is a result of the present government's efforts and dedication over the last two years to protect the rights of the people and establish democracy in the country.
He said the return of the GSP+ is not only a victory of the government but for all Sri Lankans alike.
The Premier noted that due to this opportunity local production including textiles will receive the opportunity to more broadly enter into European markets once again. The move will also generate new job opportunities and will create income generating avenues, he added.
Acknowledging that many groups helped and dedicated themselves to obtain the GSP+ facility for Sri Lanka, the Prime Minister took the opportunity to express his gratitude to them.
The European Commission Wednesday proposed that the European Union's Generalized Scheme of Preferences, Plus known as GSP+ should be granted to Sri Lanka once again after withdrawing it in 2010 due to the poor human rights record of the country.
The one-way trade preferences would consist of the full removal of duties on 66 percent of tariff lines, covering a wide array of products including textiles and fisheries.
The European Parliament and the Council have now up to four months to raise potential objections before the measures become effective.