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Sri Lanka regains EU trade concession it lost over rights concerns

Reuters  |  COLOMBO 

COLOMBO (Reuters) - Sri Lanka has regained a lucrative EU trade concession it lost over concerns about human rights, mainly benefiting its garments export industry, but it will be subject to vigorous monitoring, the European Union said on Tuesday.The South Asian island nation lost the concession six years ago.The trade concession offered by the Generalised Scheme of Preferences (GSP) Plus will provide immediate benefits worth in excess of 300 million euros a year and the value could be worth many times more if Sri Lanka uses the opportunity to diversify its economy, the European Union said in ...

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First Published: Tue, May 16 2017. 16:14 IST
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