An European Union (EU) GSP+ Monitoring Mission will be visiting Sri Lanka from 28 April to 7 May 2025 to take stock of development on the fulfilment of conditions linked to the giving of the Generalized Scheme of Preferences Plus (GSP+) trade preferences.This belongs to the regular biannual tracking to which the Government of Sri Lanka has actually dedicated in order to benefit from GSP+, the EU said in a statement, adding that the Mission will satisfy federal government officials, relevant institutions.
politicians, civil society, organization associations, trade unions and will likewise make website visits.Sri Lanka is one amongst 8 low- or lower-middle earnings nations benefitting from the GSP+.
This is an unique reward arrangement for Sustainable Development and Good Governance that is open for vulnerable developing nations that have ratified 27 international conventions on human rights, labour rights, environmental management and environment change, and good governance.
The effective application of these 27 conventions is kept an eye on with biannual missions and reports.The European Union is a single market of 27 Member States with a population of 450 million people.
The EU is Sri Lankas second biggest export location with exports of Euro 2.7 billion in 2024.
Around 85% of these exports are items that benefit from duty-free access to the EU market through GSP+.