Sri Lanka has a very good chance to retain GSP Plus sooner than expected European Commissioner for International Cooperation and Development, Neven Mimica said.
Speaking to Daily News Business he said that Sri Lanka is systematically and efficiently obliging necessary requirements.
“Sri Lanka is on the right track to regain trade preferences granted to the country under EU’s GSP. The EU Commissioner said they will work together with Sri Lanka for an early application. The approval process for GSP+ takes about 10 to12 months.The process is on track.”
Meanwhile the EU-Sri Lanka Working Group on Trade and Economic Cooperation met on May 11 in Brussels for the final round of talks before Sri Lanka submits its application for the GSP plus from the EU.
Deputy Foreign Minister Dr. Harsha de Silva said that Sri Lanka is now on the final leg of the GSP+ application process. “It will be made in a matter of weeks as EU and Sri Lanka are now just about ready except for a few loose ends to be tied up,” he said.
The Working Group discussed issues related to bilateral trade and investment and possible means for their promotion in a mutual beneficial manner. In particular it discussed Sri Lanka’s intention in applying for GSP+ status under the European Union’s GSP Regulation.
It took positive note of the fact that Sri Lanka had made significant progress in addressing outstanding issues towards launching an application, especially relating to the rule of law, democracy, governance and the overall situation pertaining to human and labour rights and environmental protection.
www.dailynews.lk
Speaking to Daily News Business he said that Sri Lanka is systematically and efficiently obliging necessary requirements.
“Sri Lanka is on the right track to regain trade preferences granted to the country under EU’s GSP. The EU Commissioner said they will work together with Sri Lanka for an early application. The approval process for GSP+ takes about 10 to12 months.The process is on track.”
Meanwhile the EU-Sri Lanka Working Group on Trade and Economic Cooperation met on May 11 in Brussels for the final round of talks before Sri Lanka submits its application for the GSP plus from the EU.
Deputy Foreign Minister Dr. Harsha de Silva said that Sri Lanka is now on the final leg of the GSP+ application process. “It will be made in a matter of weeks as EU and Sri Lanka are now just about ready except for a few loose ends to be tied up,” he said.
The Working Group discussed issues related to bilateral trade and investment and possible means for their promotion in a mutual beneficial manner. In particular it discussed Sri Lanka’s intention in applying for GSP+ status under the European Union’s GSP Regulation.
It took positive note of the fact that Sri Lanka had made significant progress in addressing outstanding issues towards launching an application, especially relating to the rule of law, democracy, governance and the overall situation pertaining to human and labour rights and environmental protection.
www.dailynews.lk
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