The European Union\u2019s Generalized Scheme of Preferences Plus tax concessions to Sri Lanka will continue until 2023, Minister of Industry, Export, Investment Promotion, Tourism and Aviation, Prasanna Ranatunga has said.<\/p>\n
Minister Rantunga made this claim following a meeting with Thorsten Bargfrede, Head of Political, Trade and Communications Section of the Delegation of the European Union to Sri Lanka and Maldives and EU representatives Sunday at the Ministry.<\/p>\n
At the meeting, the EU official has assured that the GSP+ concession will continue until 2023 and there would be no change to the related observation process.<\/p>\n
During the discussion, the Minister pointed out that GSP+ tax concession is mostly granted to the garment industry in the country and 60 percent of Sri Lanka\u2019s garment exports go to EU member countries.<\/p>\n
Minister Ranatunga observed that the garment industry represents about 43% of the country\u2019s total exports and earns around five billion US dollars to the country annually.<\/p>\n
He said the apparel industry is a major industry and thanked the EU nations for their support in that regard.<\/p>\n
Noting that EU investors were keening on investing in Sri Lanka, Bargfrede requested for a resumption of flight services by the SriLankan Airlines to EU countries. The Minister replied that the matter was already under consideration.<\/p>\n
Secretary to the Ministry of Industrial Export and Investment Promotion Mapa Pathirana and Secretary to the Ministry of Tourism and Aviation Mrs. Marina Mohammed were also present at the discussion.<\/p>\n
Courtesy: Colombo Page<\/p>\n","protected":false},"excerpt":{"rendered":"
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