In light of the economic strain caused by rising U.S. import tariffs, former UNP Deputy Leader and Member of Parliament Ravi Karunanayake has urged the government to take immediate steps to safeguard the GSP+ trade concession granted by the European Union.
Addressing the media, MP Karunanayake emphasized that the GSP+ scheme, which was regained by the UNP-led government in 2016, came with specific conditions that were accepted at the time. However, he noted with concern that the current administration has yet to respond to the conditions set by the EU for the continuation of the concession.
He further stated that a delegation from the European Commission is expected to visit Sri Lanka next week to discuss the matter, and called on the government to be well-prepared for these crucial talks.
Karunanayake warned that the country’s economy, already vulnerable due to the impact of U.S. tariffs, could suffer further damage if the GSP+ benefits are lost. He stressed that it is essential to protect this concession to support Sri Lanka’s export sector and stabilize the broader economy.
