Thursday, March 22, 2018 05:40:35 PM

Avoiding complacency on GSP Plus: The importance of long term economic reform

By Groundviews - Fri Apr 28, 6:37 am

The recent announcement that Sri Lanka had successfully defeated a motion to deny the GSP Plus trade concession would help the country’s export sector, which had been flagging over the last 18 months, Chief Economist at the Ceylon Chamber of Commerce, Anushka Wijesinha said.

Sri Lanka won the vote here in Brussels by 436 against and 119 in favor and 22 abstention for the motion to deny GSP plus for #SriLanka

— Harsha de Silva (@HarshadeSilvaMP) April 27, 2017

Wijesinha commented on the economic implications of receiving the GSP Plus concession, noting that he was not placed to comment on the human rights and political implications of Sri Lanka gaining the concession.

“In the last quarter, the EU markets have been beginning to show a steady recovery, and we’re hoping that demand conditions improve,” Wijesinha said.

However, he added that Sri Lanka should avoid complacency at this success and focus on economic reform that would help the country’s competitiveness in the long run….

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