In an otherwise gloomy economic situation, the news of the extension of GSP Plus status by the European Union is indeed good news. Whatever the reason for this extension till 2011, its benefits cannot be underestimated. Without this extension many of the country’s industrial exports, especially garment exports, would have suffered enormously. It is indeed a matter of good fortune that this extension was given. However this does not mean that the travails of the industrial export sector are over. |