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Favourable signs of garment exports to Europe - GSP+ facility for Sri Lanka once again!
The European Commission has finally decided to grant the GSP+ garment tax concession to Sri Lanka which incidentally had been forfeited to Sri Lanka for a period of 7 years.
The GSP+ facility was withdrawn by the European Commission from the year 2009 from Sri Lanka based on the fact that attention was not focused on Human Rights according to the United Nations Human Rights Convention. This unfortunate situation raised its head because of the propaganda launched by the Tiger Diaspora towards the final phase of violating human rights of the last war era. As a result the government garment export sector which was an industry that could boast of as one of the most foremost avenues of foreign exchange was subjected to a collapse and even some foreign companies resolved to abandon Sri Lanka. The foreign policy of the previous regime was not successful in rescuing this state of affairs. The present government of Sri Lanka was capable of securing the GSP+ once more because of the basis created by the new facelift given with foreign relationships coupled with a strong policy. This
companies resolved to abandon Sri Lanka. The foreign policy of the previous regime was not successful in rescuing this state of affairs. The present government of Sri Lanka was capable of securing the GSP+ once more because of the basis created by the new facelift given with foreign relationships coupled with a strong policy. This favourable news is a turning point for the economy of Sri Lanka. It is assumed that because 30 per cent of the Sri Lankan garment exports being directed towards the European Market Sri Lanka would be able to achieve an outstanding victory under the European Commission Garment Market GSP+ facility.
companies resolved to abandon Sri Lanka. The foreign policy of the previous regime was not successful in rescuing this state of affairs. The present government of Sri Lanka was capable of securing the GSP+ once more because of the basis created by the new facelift given with foreign relationships coupled with a strong policy. This favourable news is a turning point for the economy of Sri Lanka. It is assumed that because 30 per cent of the Sri Lankan garment exports being directed towards the European Market Sri Lanka would be able to achieve an outstanding victory under the European Commission Garment Market GSP+ facility.
Through this process, tax coverage would be entitled to 7500 export items and therefore Sri Lanka would derive the benefit of entering the Market being free from duty that is imposed on exports to the American Market and 26 countries in the European zone. The President's Media Unit has announced that President Maithripala Sirisena's tour to Europe and participation at the G7 Summit has paved the way to secure this facility to Sri Lanka. The announcement published by the European Commission drawing attention to the point that the reconciliation policy of the present government has resulted in receiving this grant of GSP+, from here: http://europa.eu/rapid/press-release IP-17-34 en.htm