The European Union (EU) has extended the GSP Plus trade concession to Sri Lankaby another six months, sources have revealed. This follows a delegation including the Treasury Secretary and the Attorney General visiting Brussels and presenting facts to the EU.
The Generalised System of Preferences, commonly known as the GSP plus, extension has been granted taking into consideration the welfare and development processes undertaken by the government for the people of the North and East after the end of hostilities, the EU has stated.
The trade concession for 3,200 export items from Sri Lanka, including apparels, was to end on August 15 this year. However, with the latest extension Sri lanka will enjoy the benefits till February 2011.