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[The GSP+ is a unilateral, preferential trade scheme from the EU to Sri Lanka that allows businesses in Sri Lanka to export 7,200 items to the EU, duty free. Since it was first given to Sri Lanka in mid-2005, the GSP+ has helped beat competition from lower cost producers and increase Sri Lankan exports into the EU.
According to the EC, the GSP+ is now worth 900 million Euro to Sri Lanka in terms of export earnings and is growing. The 27 country EU, has already replaced the US as the biggest buyer of Sri Lankan goods.
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