The European Union (EU) has assured Sri Lanka it will continue to enjoy the GSP Plus trade concession till 2023.
Minister of Industrial Exports and Investment Promotion, Tourism and Aviation Prasanna Ranatunga said that the assurance was given at a discussion he had with an EU delegation in Colombo.
There had been concerns that the change of Government and a change in policy on the human rights issues would result in Sri Lanka losing access to the GSP Plus trade concession.
However, Ranatunga quoted the Head of the Political, Trade and Communications Section, of the EU Delegation office in Sri Lanka, Thorsten Bargfrede as saying that the EU had already decided that Sri Lanka will enjoy the trade concession till 2023 and that decision remains unchanged.
Sri Lanka’s apparel sector is the main beneficiary of the trade concession.