Sri Lanka will regain the benefits of full removal of tariff lines over its 66 percent, or 6,000, products (GSP+) from Friday after it was suspended in 2010 on account of serious human rights violation allegations. EU Ambassador to Sri Lanka Tung-La' Margue told journalists in Colombo today that there will be close and stringent monitoring of Sri Lanka's progress at the first biannual review in January next year. <br/><br/>He added that there are issues which need progress but there are no serious failures. Mr Margue said the GSP + scheme's immediate benefit will be over 300 million euro a year. The EU official said the benefits should be made inclusive to cover former conflict areas in the north and east as well. The EU is Sri Lanka's biggest export market, accounting for over 30 percent products with a value of 2.6 billion euros.
News On AIR | May 17, 2017 12:12 PM
Close and stringent monitoring of Sri Lanka's progress at first biannual review: EU Ambassador to SL