EU’s GSP+ withdrawal: Sri Lanka at risk of losing 2 Billion US dollars 

Gotabaya Rajapaksa government has started facing the affects of European Union’s recent resolution on Sri Lanka. 

Sri Lanka’s State Minister Dayasiri Jayasekara says that Sri Lanka was at the risk of losing 2 billion US dollars  if the Europe’s General Scheme of Preferences (GSP+) concession was withdrawn. 

In the resolution adopted on the European Union Parliament called on the European Union Commission to consider temporary withdrawal of Sri Lanka’s preferential access to European markets. Experts has warned that, it would severely damages the Sri Lankan exports economy. 

Now the Sri Lankan minister Dayasiri told Parliament the importance of GSP+ concession. 

“Some people say that we can go to the open market. But,we do not have a proper mechanism for that,” he said. 

The resolution expresses deep concern over Sri Lanka’s alarming path towards the recurrence of grave human rights violations as described by the most recent UN report on Sri Lanka. It also expresses concern about the growing role and interference of China in Sri Lanka. 

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