EU-Sri Lanka trade talks after 5 years
The European Union (EU) has kick-started discussions with Sri Lanka five years after the former withdrew key trade concessions and now wants a “strong reconciliation process” in place.
The EU Delegation head in Colombo David Daly remarked on Wednesday that the discussions between the two sides kicked off in December last year after a lapse of five years. The ambassador was speaking at the briefing held for the EU Sri Lanka Business Coucil with its visiting Vice Chairman Alan Donnelly. Relations between the two sides were adrift after the EU withdrew GSP + trade concessions that had caused a bit of a stir especially among the country’s apparel sector since exports were later taxed resulting in increased competition.
While stating “you won’t find anyone who mourns the LTTE,” Mr. Daly pointed out the need for a “strong reconciliation process so that there can be a full reaping of a full peace dividend.”
However, he warned the government of possible repercussions should the island state not deal with a genuine reconciliation and it could lead to matters storing up for later.
During the discussions through the establishment of the Joint Commission of the EU, talks centred on gaining from the untapped potential in Sri Lanka from investments and trade. “This is an issue at the top of our agenda in Colombo,” he explained.
The joint Commission deals with political and other delicate and complex issues and a dialogue on trade was conducted in a “positive manner,” Mr. Daly said.