Sri Lanka to receive GSP+ concession next week: President

Jan 09, 2017 (LBO) - President Maithripala Sirisena says he has received information that Sri Lanka will receive the GSP+ trade concession next week, marking a significant turning point in the industry and export fields of the country. During the last two years the present government was able to build friendship with all the countries in the world, eliminating many hindrances which halted the forward drive of the country, he said. He made these remarks participating in a ceremony to open the newly built bridge in Kandy, Saturday. Sri Lanka submitted its application to the EU to regain its lost trade concessions, GSP plus mid 2016 and a visiting EU delegation in January highlighted that it would take a period of at least 10 months to regain trade concessions. These trade concessions have been linked to the country’s compliance with human rights and labour rights conventions. Earlier, the European Council said it welcomed the significant advances made by Sri Lanka since the presidential elections held in January 2015 to restore democratic governance, initiate a process of national reconciliation and re-engage with the international community and the United Nations system. Sirisena also said that when we talk about our development works with great pride, we should pay attention to the severe debt burden on the country and his government is not ready to launch mega-scale development projects obtaining loans, that ruin the future of the country. “We should take into the consideration about the tragedies faced by various countries in the world due to their severe debt burden,” the President added. Expressing his views regarding the false propaganda carried out by some sections of the society regarding the Hambantota Port and the industrial zone, the President said that he is not ready to give the land rights of this country to any country in the world. The President further stated though new industries and investments are needed for the country, the lands for them will be given according to the laws and regulations of the constitution of Sri Lanka. “Our agreements with the countries, businessmen, investors and international organizations are very open. The current government is honestly committed to the development of the country”, the President said.