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Thursday, October 29, 2020

Sri Lanka gets European Union GSP+ tax concessions back

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The European Commission today proposed that a significant part of the remaining import duties on Sri Lankan products should be removed by the European Union in exchange for the country’s commitment to ratify and effectively implement 27 international conventions on human rights, labour conditions, protection of the environment and good governance. These one-way trade preferences would consist of the full removal of duties on 66% of tariff lines, covering a wide array of products including textiles and fisheries.

These preferences would come under a special arrangement of the EU Generalised Scheme of Preferences, known as GSP+.

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