The Cabinet has appointed a Sub-Committee to review Sri Lanka’s new application for the European Union’s GSP+ preferential trade facility.
The committee will be co-chaired by the Ministry of Foreign Affairs, Overseas Employment and Tourism and the Ministry of Trade, Commerce and Food Security, with representatives from eight other ministries.
To qualify for the GSP+ facility, Sri Lanka is required to comply with 27 international conventions covering four key areas: human rights, labour standards, environmental and climate protection, and good governance. Five additional conventions have been included for the next application round.
These include international conventions relating to narcotic drugs and psychotropic substances, illicit drug trafficking, corruption and transnational organised crime.
The Cabinet Sub-Committee was approved following a Cabinet paper presented by Trade Minister Wasantha Samarasinghe. The committee will examine Sri Lanka’s compliance with the EU’s requirements before the application is submitted.
Sri Lanka is required to submit its new application before December this year, as the current GSP+ system is scheduled to end on December 31, 2026.
Developing countries that qualify for GSP+ receive preferential access to the EU market. Continued access to the facility depends on the effective implementation of the relevant international agreements.
