COYLE welcomes re-implementation of GSP Plus | Sunday Observer

COYLE welcomes re-implementation of GSP Plus

The Chamber of Young Lankan entrepreneurs (COYLE) expressed their appreciation on the re-implementation of the Generalized Scheme of Preferences (GSP) by the EU recently, stating that it presents opportunities and challenges for Sri Lankan exporters.

Chairman of COYLE, Kushan Kodituwakku said, “COYLE hopes to take full advantage of the untiring efforts of the Prime Minister and the Government in the pursuit of this facility to encourage its members to stamp a global footprint on its businesses.

“COYLE believes in the abilities of its members and in a spirit of brotherhood, envisions in fulfilling the Governments 2020 economic vision by targeting 100 of its member companies to eventually grow into global billion dollar companies. “GSP plus rules shall facilitate Sri Lanka’s access to the EU market, speeding up industrialization, creation of jobs, improvement of income and contributing to economic growth.

“Besides the advantages of regaining GSP plus regulation, it will definitely create new avenues for out-of-the-box thinking and require businesses to have long-term vision and business strategy to take maximum advantage of this facility. It would also be imperative that it be done in a sustainable manner with emphasis on quality and compliance with the EU’s requirements and standards on a number of products,” he said.

COYLE which has and always will be a forerunner in business and economic development has taken serious note in promoting its members to fully understand and exploit the opportunities offered by the EU-GSP plus and will in a spirit of brotherhood continue to provide businesses throughout the country with information on the EU’s regulations applied to developing countries, including Sri Lanka.