The Ceylon Chamber of Commerce is encouraged by the prospects of regaining the GSP Plus trade preferences and is hopeful that the final vote at the EU Council of Ministers will be favourable.
The granting of GSP Plus to Sri Lanka again will have a positive impact on exports to the European Union. It comes at a good time for the country as overall exports have been flagging and has affected the country’s external payments position. The Ceylon Chamber of Commerce commends the Ministry of Foreign Affairs and the Department of Commerce, who were instrumental in this victory.
The process that led up to this vote was no doubt arduous, but has reiterated the importance of international diplomatic engagement for Sri Lanka.
The regaining of GSP Plus at this time is welcome because EU economies are showing signs of economic recovery. Given that most orders have already been finalized for this year, the real boost is likely to be seen from next year.
The Ceylon Chamber of Commerce now calls on the government to launch a targeted and accelerated program to support sectors capable of expanding their exports to the EU.
- Ceylon Chamber of Commerce media release