A group from the European Union is arranged to arrive in Sri Lanka in the latter part of April to examine the Generalised Scheme of Preferences Plus (GSP+) trade concession.The team will hold discussions with representatives of the government and regional officials relating to the GSP+ trade concession and its conditions, said the Leader of the Opposition, Sajith Premadasa.During a conference accepted representatives of trade unions, Opposition Leader Premadasa said the GSP+ concession plays an important part in Sri Lankas fashion industry as 28% of the exports head to the EU market.
Premadasa noted that the opposition will stand with the fashion industry and support the retention of the GSP+ concession.He for that reason asked for the government to work towards complying with the conditions that will ensure Sri Lanka will continue to receive the GSP+ trade concession.The GSP+ is an unique reward arrangement for Sustainable Development and Good Governance that supports susceptible developing countries.GSP+ nations are required to validate 27 worldwide conventions on human rights, labour rights, environmental protection and environment modification, and great governance.In order to make sure reliable application of the conventions in addition to compliance with reporting responsibilities, the EU takes part in monitoring activities with the GSP+ countries consisting of Sri Lanka.
GSP+ beneficiaries can benefit from total task suspensions for items across approximately 66% of all EU tariff lines.