The Sri Lanka Garment Industry Can Benefit From The EU GSP.

Rankin said, according to European Union The GSP + status and the cancellation of tax preferences appear to be right. Sri Lanka The clothing department has no obvious impact. This can be exported to the European Union by about 4 billion of costumes in Sri Lanka, including Britain The reality proves.

The financial problems in some European countries have reduced the purchasing power of purchasers, but have not affected the export of Sri Lanka clothing to these countries. However, the debt crisis has led to shrinking profits for producers and outsourced partners.

Despite the adversity, he said, Sri Lanka continues to be the main source of premium, innovative and reasonable pricing clothing projects in the European Union, the United States and India and will continue to decline. For Sri Lanka, therefore, it is necessary to continue to maintain effective commercial relations with these countries.

Lankin hinted that Sri Lanka might again get concessions from the EU's GSP, but he clarified that so far, the decision of Sri Lanka government to decide whether to meet the GSP requirements and apply for another application has not been decided.

In August 15, 2010, the European Union temporarily cancelled the preferential access to Sri Lanka's export to the EU market because the EU found that Sri Lanka had deficiencies in implementing the three UN human rights agreements.