EC proposes 4-year extension to current GSP+ scheme

COLOMBO (News 1st) - The European Commission has proposed a 4-year extension to the current GSP+ scheme until 31 Dec 2027 so that countries like Sri Lanka, don't lose their preferential access in the interim.

The extension comes as negotiations for the EU's new GSP+ arrangement are still ongoing between the EU’s co-legislators.

The EU mission in Sri Lanka said that for Sri Lanka, the GSP+ extension proposal means that, for now, nothing changes.

It said that Sri Lanka will have the same access to the European market and the same obligation to comply with the 27 international conventions, which are key to ensuring that economic recovery is not just fast, but also fair, just, and green.