Sri Lanka to regain access to EU trade concession this weekStaff Writer | May 16, 2017
Sri Lanka will regain access to the European Union(EU)'s GSP plus trade concession this week, the EU office in Colombo announced.
Trade Generalised Scheme of Preferences
As a result, he says the granting of the GSP plus status will be printed in the official journal on Thursday and Sri Lanka will have access to the facility from Friday.
Sri Lanka earlier lost GSP plus status over its failure to comply with 27 international conventions.
EU's Generalised Scheme of Preferences (GSP) allows developing countries to pay less or no duties on exports to EU, offering them a vital access to EU markets. ■