Sri Lanka to win back GSP+ tariff concession from EU

Sri Lanka could win back the suspended trade tariff concession for its exports to the European Union, as the 28-member bloc has noted progress made by the country on GSP+ criteria, a senior EU official said today.
"Now is the correct time -- it is visible that democracy and reconciliation are top priorities of the newly elected government," Neven Mimica, European Commissioner for International Cooperation and Development, said in a statement.
The good governance (GSP+) facility had been suspended in 2013 due to want of fulfilling Sri Lanka's obligations under the International Covenant on Civil and Political Rights and other labour regulations.

The new government led by President Maithripala Sirisena elected last year is keen to regain the facility which is so important to the islands apparel exports industry.
Mimica said it was the common will of the EU to grant the facility. We will work together for an early application. The approval process takes about 10 to 12 months.
The process is on track and a meeting will take place in April when a delegation from the EU comes.
He said the EU was keen to support the new political momentum in Lanka under the government elected in 2015.
Mimica said the EUs Multi-Annual Indicative program amounting to 210 million Euro will be reviewed in order to help the reconciliation process currently underway in Lanka.