Government rejects claims EU has suspended Sri Lanka’s GSP+ concession

By The Pulseline News Desk

The Government has rejected claims that the European Union (EU) has suspended Sri Lanka’s Generalised Scheme of Preferences Plus (GSP+) trade concession, saying the preferential market access scheme remains fully in force until the end of 2028.

Deputy Minister of Finance Anil Jayantha Fernando told Parliament on Tuesday (22) that reports suggesting Sri Lanka had lost or had been suspended from the EU’s GSP+ were “completely incorrect and misleading.”

Responding to a question raised by MP Harshana Rajakaruna, Fernando said Sri Lanka continues to receive preferential access to the European market under the existing GSP+ arrangement.

He said the current scheme remains effective until 31 December 2028, dismissing claims that the concession had already been withdrawn.

The Deputy Minister, however, noted that the requirements attached to the updated GSP+ framework have changed, with the number of international conventions that beneficiary countries are required to implement increasing from 27 to 32.

Despite the expanded requirements, he said Sri Lanka continues to benefit from the preferential trade arrangement.

The clarification comes as questions continue to surround the future of Sri Lanka’s access to the EU market after the current GSP+ period expires.

Fernando said the Cabinet has appointed a committee to examine matters relating to Sri Lanka’s preferential market access under the GSP+ scheme.

In addition, another committee has been tasked with preparing a fresh application for GSP+ to ensure continuity of preferential access beyond 2028.

The Government’s move comes at a time when maintaining access to major export markets remains a key priority for Sri Lanka, particularly as the country seeks to expand exports and strengthen foreign exchange earnings.

The EU is one of Sri Lanka’s important export destinations, with preferential access under GSP+ providing reduced or zero-duty entry for a wide range of products subject to the scheme’s conditions.

The Government’s position therefore appears to be focused on both protecting the benefits available under the existing arrangement and preparing early for the next phase of the EU preferential trade framework.