GSP suspension to affect Lanka’s bicycle trade to the EU

6 January 2010 03:35 am - 1 - {{hitsCtrl.values.hits}}

A A A

The possible suspension of the GSP plus trade concession to Sri Lanka by the EU will affect the country’s duty free export status for bicycles and bicycle parts, the Bike Europe website reported. Sri Lanka is the number 4 bicycle supplier of the EU with a 2008 export of over 700,000 bikes. These bikes were able to enter the European Union without anti-dumping duties and/or import tax.

The European Commission recently said it has completed a thorough investigation into the human rights situation in Sri Lanka and added that the country was not living up to the commitments it made to respect international human rights standards when it became a beneficiary of the European Union’s General System of Preferences (GSP+) trade incentive scheme which provides for additional trade benefits.

The European Commission added that as a result it had come to the conclusion that there Sri Lanka is in breach of its GSP+ commitments. The Commission launched this investigation on 14 October 2008 to assess whether the national legislation of Sri Lanka incorporating three UN human rights conventions was effectively implemented.

These three conventions, the International Covenant on Civil and Political Rights (ICCPR), the Convention against Torture (CAT) and the Convention on the Rights of the Child (CRC) are among the 27 international conventions that form part of the substantive qualifying criteria for GSP+.

After consulting with member states, the Commission adopted a proposal with a view to temporarily suspending these additional trade benefits. The EU Member States will have two months in which to decide on it. In case they decide to temporarily stop the country’s duty free export status it will have severe implications on the bike export from the country to the EU.

Sri Lanka is a major beneficiary of the trading opportunities offered by GSP+. In 2008, EU imports from Sri Lanka (including bicycles, bicycles parts as well as lots of other products) under GSP+ totalled € 1.24 billion. Any future temporary withdrawal of GSP+ treatment would mean that EU imports from Sri Lanka would instead be subject to standard GSP preferential treatment. (DM Online)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 1

Monday, 11 January 2010 11:49 AM

It's really a severe blow to the workers attached to the bicycle industry,before they do the suspension ,EU should consider about the poor hand to mouth living workers.

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

GSP suspension to affect Lanka’s bicycle trade to the EU

Comments - 1

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Sri Lankan among NASA’s new crew for next simulated Mars journey

Street food vendor arrested for verbally harassing foreigner

Racing event tragedy leaves seven dead including eight-year-old child

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

New Visa procedure implemented

MIRROR CRICKET

TODAY'S HEADLINES