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Sri Lanka to regain access to EU trade concession this week

Staff 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.
Tung-Lai Margue
Trade   Generalised Scheme of Preferences
The EU Ambassador to Sri Lanka and the Maldives Tung-Lai Margue said no EU country has objected to Sri Lanka being granted GSP plus status.

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.