Restoration of GSP+ urgently needed to sustain EU apparel market

November 12, 2010, The Island The European Union withdrew the GSP+ tariff concession granted to Sri Lanka under special privileges to economically vulnerable developing countries since 2005, on 15 th August, 2010 in relation to what was regarded as shortcomings in Sri Lanka record on implementation of 27 International Conventions which is an integral part of the trade benefit.The last nail to the coffin seems to have been driven when Mr.Bernard Savage, EU Ambassador in Colombo has stated recently that the Government and the EU are not involved in fresh talks to revive the GSP plus trade benefits for the country. He has categorically stated...

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Posted in apparel , garment industry , GSP+

Sri Lanka government relaxes import duty on potato and big onion

(November 01, 2010) Secretary of the Ministry of Cooperatives and Internal Trade Anura Siriwardhana announced that the government has relaxed the import duty for potato and big onion. Accordingly, the import tax for potato has been reduced to Rs. 10 per kilo from Rs. 30 per kilo earlier. The import tax for big onion has also been reduced from Rs. 25 kilo earlier to Rs. 10 per kilo. The government says the import taxes were imposed to sustain prices during the prices during the harvesting period of the local potato and big onion farmers. The measure curbed the influx of imported cheap potato and big onion in the local market. However,...

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Posted in big onion , potato