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SL can compete without GSP - Cabraal

10 March 2011 05:05 pm - 24     - {{hitsCtrl.values.hits}}

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Sri Lanka asserted that that it is capable of competing in the international market despite the withdrawal of the GSP concession granted by the European Union.

“Sri Lankan products no longer needed concessions to compete in the international market, and was fully capable of doing so on the basis of its quality and improved productivity,” Central Bank Governor Ajith Nivard Cabraal said in Brussels on Tuesday.

He was speaking at the European Institute for Asian Studies (EIAS) on the theme “Sri Lanka’s Economic Resurgence and Future Prospects”.

Questioned as to the economic impact following the withdrawal of the EU-GSP+ tariff concessions in August 2010, the Governor Cabraal said Sri Lanka had prepared for this eventuality over time and consequently the impact of its loss has been minimal. He said the exaggerated fear that it would lead to massive job loss and reduction of exports had not materialized. In fact, trade to the EU countries had grown by 38% in the last 4 months of 2010.

Mr. Cabraal has also called on the Organization for Economic Cooperation and Development (OECD) to reflect Sri Lanka’s improved conditions in their country ratings, the Sri Lankan Embassy to Belgium, Luxembourg and the European Union said in a statement today.
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  Comments - 24

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  • Dilan Friday, 11 March 2011 07:39 AM

    Wise remarks , Made by a Wise Man !

    Nihal Amarasekera Friday, 11 March 2011 04:14 AM

    We supposedly lost; but in fact we won the dignity of the country and all. Reason for another “human rights” tirade by the “international community”.

    MSL Friday, 11 March 2011 04:20 AM

    Big talks for patriotic pride. People are starving.

    curious cat Friday, 11 March 2011 04:25 AM

    sour grapes!

    Sinha Thursday, 10 March 2011 06:16 PM

    For once a pro active approach. Keep up the good work

    ZangaZanga Thursday, 10 March 2011 06:31 PM

    World knows that our country is going (SL - Minus) and not the plus.... Even people can no effort their daily basic needs and cost of living getting very high day by day. suba chintanyak

    Chandra Friday, 11 March 2011 04:36 AM

    We have to transform from garments industries to technology based industry by now. Will have to provide concessions for investors in that caliber. The technology will transfer in that way

    Guru Thursday, 10 March 2011 06:50 PM

    Don't talk rabbish.

    I Hussein Friday, 11 March 2011 08:50 AM

    Wise man? ha ha ha.
    He is a comic mate.

    I Hussein Friday, 11 March 2011 08:58 AM

    At rate its going, half of the srilankans will look like this 'wiseman' (and GL) soon.

    Ronny Friday, 11 March 2011 09:00 AM

    Dilan, it could be either "foolish remarks by a wise man" or "wise remarks by a foolish man".

    Simple Simon Friday, 11 March 2011 08:54 AM

    Mr Governer this is not a cricket match...

    Cobra Friday, 11 March 2011 01:27 AM

    A face saving utterance that comes down to 'sour grapes'!!!

    SUDU Friday, 11 March 2011 01:21 AM

    on the basis of its quality and improved productivity - good joke

    kosala Friday, 11 March 2011 02:12 AM

    are economic phds printed these days for toffees ? or is it only Harshas PhD ?

    kosala Friday, 11 March 2011 02:23 AM

    so what else the world know ?

    Sunil Lanka Friday, 11 March 2011 02:16 AM

    Govt can do without GSP, CB can but the industry and workers are feeling the pinch and we all public see SUBA ANAGATHE

    Calistus Jayatilleke Friday, 11 March 2011 06:12 AM

    SL can also survive without such accountants who pretend to be economists juggling statistics to please their masters.

    haawa Friday, 11 March 2011 03:00 AM

    anything is possible with the flawed statistics of Cabraal. But on the ground level, inflation and cost of living is rising, making it very difficult for the comon man to live lke never before.

    wahoo Friday, 11 March 2011 03:26 AM

    come. come Mr Cabraal come up with some numbers ( bogus)

    asha Friday, 11 March 2011 03:30 AM

    HAPPY BACK-BONE!

    Rajash Friday, 11 March 2011 06:43 AM

    Sri Lanka can compete.......or Sri Lankan can survive?

    raul Friday, 11 March 2011 03:36 AM

    We go with MML like Gold coin selling?

    Rohan kariyawasm Friday, 11 March 2011 12:18 PM

    Then why were you begging before in front of the whole world


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