Losing this GSP+ from this October will make the War machine of GOSL to crumble without oil to Lubricate !
Winning GSP+ extension not a political issue but a necessity
By A. K. Azeez
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The European Union (EU) is today Sri Lanka's largest trading partner. The EU is also Sri Lanka's number one export destination, with products and services worth approximately 1.7 billion euros, being exported to the EU, which is 29 percent of Sri Lanka's total exports. Garments and textiles account for over 55 percent of the value of our exports to the EU, amounting to more than 1 billion euros.
The key factor behind the recent increase in Sri Lanka's exports to the EU is the GSP+ status, granted to Sri Lanka in 2005. Under this facility, Sri Lanka can export more than 7,200 product categories to the EU. Sri Lanka is one of the 15 countries in the world, that enjoys this trade concession and the only country in Asia |