Home / Knowledge / News / Textiles / Sri Lanka will not ask EU for GSP facility: Govt official
Sri Lanka will not ask EU for GSP facility: Govt official
Jul '13
The Government of Sri Lanka will not ask the EU for Generalised System of Preferences (GSP) facility as the country’s macro challenges have changed, according to a Government official.
Asking for export concessions would only leave the country as a subsistence economy, said Mr. PB Jayasundara, Secretary, Ministry of Finance and Planning, while addressing a Forum on ‘Government Strategy for Industrial Development of Sri Lanka’ in Colombo.
Mr. Jayasundara said the biggest obstacle to Sri Lanka’s economic development was the war, which is now over. He said in the post-conflict era, the biggest beneficiary is the private sector.
He said the challenges for the industry have changed and today the new challenges are hike in wage rates, workers’ unrest and lack of availability of workers.
He urged industrialists present at the Forum to export good quality products and make Sri Lanka the wonder of Asia.
Talking about export strategies, the Secretary said exports need not always be aimed at lucrative markets only, and said Sri Lanka needs to deepen economic ties with both India and Pakistan, as these markets provide unlimited potential.
He asked Sri Lankan industrialists to take a long-term view while selecting products for manufacturing, rather than a stop-and-go method, which would lead the country to become an assembly plant.
In August 2010, the EU suspended its GSP+ privileges to Sri Lanka, citing the South Asian country’s failure to meet human rights conventions that are needed for continuation of the benefits under the scheme.
The GSP+ status provided tax free access for Sri Lankan products, especially garments, to the European market. 
Sri Lanka exported textiles and apparels worth US$ 3.8 billion last year and the country has set a target of achieving US$ 4.1 billion in textiles and garment exports this year.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search