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Sri Lanka’s import restrictions impact negative: EU

19 November 2020 10:26 am - 10     - {{hitsCtrl.values.hits}}

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The government’s current import restrictions in place are having a negative impact on Sri Lankan and European businesses, and on Foreign Direct Investment, the Delegation of the European Union (EU) said.

Issuing a statement together with the Embassies of France, Germany, Italy, Netherlands and Romania, the EU said that such measures impair Sri Lanka’s efforts to become a regional hub and negatively impact Sri Lankan exports by constraining the import of raw material and machinery.

“We recall that a prolonged import ban is not in line with World Trade Organisation regulations,” the statement said.

Furthermore the statement added that the Sri Lankan government’s decision to withdraw its support of the United Nations Human Rights Council Resolution 30/1 remains a source of concern. It highlighted the government’s commitment, including to the EU, to fostering reconciliation, justice and peaceful coexistence among Sri Lanka’s diverse communities. The EU said it stands ready to support the Government’s efforts in this area.

As the EU is a crucial economic partner for the island nation owing to the EU’s special Generalised System of Preferences (GSP+), Sri Lanka enjoys competitive, predominantly duty- and quota-free access to the EU market, based on the continued implementation of 27 international conventions on human rights, labour, environment, climate change and good governance, the EU stressed.

“Not least due to these unilateral trade preferences, the EU is the second biggest export market for Sri Lanka worldwide, with a positive trade balance of more than 1 billion EUR (about 220 billion LKR) in 2018 and 2019,” the statement said.

“We are looking forward to continuing our deep engagement with Sri Lanka, in line with our shared international commitments and obligations,” the EU added.

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  Comments - 10

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

 

 
  • TN Thursday, 19 November 2020 11:15 AM

    Lol...do as we say / buy our goods, or we will start talking about alleged human rights issues again. Sooo transparent EU...lmao!

    Desillusioned Thursday, 19 November 2020 11:56 AM

    Don't worry. Very soon Sri Lanka will be completely isolated from the free world.

    Esther Cohen, Europe Thursday, 19 November 2020 12:08 PM

    Yes, Europe is transparant and respect human rights of minorities. Jealous?

    S.P.Ramkumar Thursday, 19 November 2020 07:31 PM

    Government have to revise the import restriction due to Covid 19 impact. Other matters are policy matters of Government of Sri Lanka.

    VJ Thursday, 19 November 2020 07:36 PM

    Trade is supposed to be two way. Maybe it is different for Sri Lanka, since we are a country like no other.

    Mohamed Thursday, 19 November 2020 08:42 PM

    S.P. Ramkumar, the EU can put pressure on our government for these matters. We, the minorities ourselves are powerless.

    Antony Jude Thursday, 19 November 2020 09:45 PM

    Our economy will be affected negatively, if EU impose import restrictions against Srilanka. China will never buy from us.

    subodha makawita Thursday, 19 November 2020 09:51 PM

    Desillusioned ? It will be long wait for you. keep waiting.

    ghry Thursday, 19 November 2020 10:33 PM

    EU Export/import is not our concern in developing our Nation but China

    Buddhist Friday, 20 November 2020 01:31 AM

    Its the short sightedness of SL Govt.


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