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EU decides to suspend GSP for Sri Lanka
Sun, 07 February 2010 13:15
(NIDAHASA News) European Union (EU) nations have decided to suspend Sri Lanka`s preferential trade status because of the island’s human rights record and will make the formal move later this month, officials said Friday.
“European ambassadors have taken the decision. The EU Commission’s investigation showed Sri Lanka has not demonstrated that it has taken the steps that would allow it to retain or regain the GSP+ status,” AFP said quoting an European diplomat.
However the suspension would not come into effect until six months later.
The decision to suspend the trade privileges was taken last week and is set to be endorsed by European finance ministers when they meet in Brussels on February 16, the diplomat said.
This is in part to allow manufacturers and traders to adjust to the new rules, but it also gives Colombo a fair opportunity to get the decision reversed.
Sri Lanka’s hawkish government has faced almost constant criticism over the past several years because of the way it has conducted a war against LTTE.
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