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EU's GSP+ concession to Sri Lanka to continue till 2023

EU’s GSP+ concession to Sri Lanka to continue till 2023

The European Union’s (EU) generalised scheme of preferences plus (GSP+) tax concessions to Sri Lanka will continue till 2023, minister of industry, export, investment promotion, tourism and aviation Prasanna Ranatunga recently said after meeting Thorsten Bargfrede, head of political, trade and communications at the Delegation of the EU to Sri Lanka and Maldives.

Sixty per cent of Sri Lanka’s garment exports go to EU member countries. The garments industry represents about 43 per cent of the country’s exports and earns around $5 billion to the country annually, the minister said.

Noting that EU investors were keening on investing in Sri Lanka, Bargfrede requested for a resumption of flight services by the Sri Lankan Airlines to EU countries. The minister replied that the matter was already under consideration, according to Sri Lankan media reports.

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