No final decision by EU on GSP+
The European Union will make its final decision on the continuation of the GSP + concessions for Sri Lanka when their review for this year concludes.
Until a final announcement from the EU is made the bloc has allowed for the existing concessions to be continued temporarily for another four years.
Once the final decision of the EU is announced that some analysts believe could happen any time closer to the end of this year or even in January 2024, the existing concessions will cease and the new decision will become effective.
Joint Apparel Association Forum (JAAF) spokesman Yohan Lawrence points out that this is favourable for Sri Lanka as this would mean the current scheme gets rolled over for another four years.
“It probably works in our favour,” he said adding that it is possible there would be another review cycle again.
The EU in a twitter post on July 19 stated “As negotiations for our new GSP+ arrangement are still ongoing between the EU’s co-legislators, the European Commission has proposed a four year extension to the current scheme until 31 Dec 2027 so that countries like Sri Lanka, don’t lose their preferential access in the interim.”
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