The EU GSP+ Monitoring Mission commended Sri Lanka over the progress it has made on economic recovery, dealing with corruption and human rights and assured its continued support in the country’s reform path.
The EU delegation conveyed their views when they called on Foreign Affairs and Tourism Minister Vijitha Herath at the Foreign Ministry last week.
The Minister apprised the delegation on the steps the government has undertaken to combat corruption, improve human rights and strengthen the reconciliation process.
Herath also recalled the longstanding partnership between Sri Lanka and the EU across diverse sectors and appreciated the continued support it had extended to the country during crucial times.
The EU GSP Plus Mission is currently visiting Sri Lanka on a biannual review of the country’s compliance with the Generalised Scheme of Preferences Plus trade requirements.
The delegation will conclude its visit on May 7.
Sri Lanka is one among the eight nations benefitting from the preferential duty-free trade facility to the EU market contingent upon implementing 27 international conventions on human rights, labour rights, environmental protection and god governance.
The EU, a bloc comprising around 450 million people, is Sri Lanka’s export destination accounting for close Euro 2.8 billion in exports in 2024 which went to the region under the duty free facility.
Sri Lanka was first granted GSP+ status by the EU in 2005, to aid post-tsunami recovery. However, it lost this status in 2010 due to non-compliance with EU requirements. Sri Lanka regained GSP+ status in May 2017 after demonstrating progress in implementing necessary international conventions.
Granted in 2017 the program offers the industry the ability to compete on even terms with our major competitors for the supply of apparel to the EU.
Sri Lanka’s annual apparel exports to the bloc accounts for around $1.5bn. Of this volume, roughly 50% of the garments qualify for duty-free status in the EU.
Beyond apparel, the scheme extends a very wide range of other products that can be exported to the EU free of duty.
The current phase of the program will come to an end in 2027, and once the new scheme is finalised, any country wanting to apply for the scheme will need to make a new application.
