Business Times

Neither Govt. nor private sector sought EU help to reverse GSP:Savage

By Bandula Sirimanna

The European Union Office in Sri Lanka has not received any representations from either the Sri Lankan Government or the private sector expressing concerns over the suspension of the GSP+ concessions in August, according to the EU Ambassador in Colombo Bernard Savage.

In an interview with the Business Times, he noted that government authorities and several private sector firms have made it public that the Sri Lankan exports to EU countries will not be affected by the removal of the GSP+ scheme. However, he added, the EU is always willing to discuss this matter with the Government whenever it feels it is appropriate.

The Ambassador reiterated that Sri Lanka was able to enjoy the GSP+ concessions since July 2005 enabling 7200 product lines to be exported to the EU duty free as long as the Rules of Origin criteria were met.

Replying to a question on the consequences of the EU’s decision on suspending GSP+, Mr. Savage said that the EU was unable to assess the impact at present in the absence of statistical evidence which will only be available after a period of time.

He went on to say that he did not have any official submissions confirming the closure of small and medium scale garment firms, job losses mainly among the rural poor, and a decline in global investor confidence as a direct result of the GSP+ suspension.

It appears that the Government and the Private sector had identified alternatives to tackle the situation, he said. Sri Lankan authorities were of the view that exporters will still be competitive after the loss of the scheme due to depreciation of the currency against the euro and pound. But several apparel exporters told the Business times that their buyers have already moved away from them to firms in Bangladesh and Vietnam as they offer lower prices.

However Mr . Savage noted that Sri Lanka has reverted to the normal GSP scheme from August 15 which imposes a certain percentage of duty for most of the country’s major export products as against zero duty under GSP+. Sri Lanka should make use of the normal GSP scheme to increase exports to the EU market, he said.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other Business Times Articles
Singapore firms to invest in SriLankan Airlines units
Government to tighten belt to pay public sector salary hike
Rules easing for foreigners to invest in Sri Lanka
Host of state entities to take IPO leap
Linde Group acquires 95% stake in Ceylon Oxygen
CPC’s controversial gas oil deal with UAE firm cancelled
Leisure industry opposes removal of visa-on-arrival
Microfinance experts meet in Colombo
Concerns over target of 2.5 million tourists
Five-lane highways, congested roads
Protecting directors from personal legal liability
Investing your EPF contributions in the Colombo stockmarket
EPF amendments without proper consultations with stakeholders : Union
Simplify land acquisition for pvt sector in 2011 budget : CCC
Waking up to wedding dreams
India’s low-fare carrier enters Sri Lankan airspace
SriLankan Catering to list 20%
Largest gap between sexes in Lankan labour force participation
Call to standardize pertinent company info in annual reports
Time for derivatives in the Colombo bourse
Continuing saga of oil exploration in the Mannar basin
Overseas Realty to moot tax drop
Dialog’s Reality show for armed forces personnel
Govt. intervention in economic renaissance highlighted at the CPM conference
Seminar to mark 'World Day for Decent Work'
FCCISL gears up for 2010 Sri Lankan Entrepreneur of the year
Tata in housing sector in Sri Lanka
EU focuses assistance on displaced in North and East
Most Sri Lankan families can’t buy even a basic house : WB
Sleep-in-comfort soon on SriLankan Airlines
Employee surveys not conducted due to time, cost restraints
Dankotuwa organizes quality week focusing on employee participation
IMF says Sri Lankan economy shows improvement
Economy to be highlighted at Oct. 28 ICASL conference
FCCISL welcomes decision to ban metal scrap exports
BOC rating up on potential government profile
CBL commemorates National Quality Week
Neither Govt. nor private sector sought EU help to reverse GSP: Savage
Way forward towards improving agriculture
Proposed CEPA to be widely discussed by all stakeholders: Indian High Commissioner
Stop use of post-dated cheques in Sri Lanka
15 trade unions in historic move to unite Lankan workforce
Regulatory framework to standardise Sri Lanka’s higher education institutions
Trade union leader defends US GSP for Sri Lanka
Gulf Air resumes flights to Colombo
Canada keen to pursue business interests with Sri Lanka
Free Lanka plans to follow subsidiary Hydro Power Ltd’s IPO in 2011
‘Adrenalin’ Human Capital Alignment software now in Sri Lanka


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution