Sri Lanka held talks with a delegation from the EU Trade Working Group this week in Colombo, aimed at regaining the preferential trade tariff, GSP plus, the Sri Lankan government said.
"Sri Lanka and the EU discussed issues related to promoting bilateral trade and investment. In particular they started the process that may lead to the re-admission of Sri Lanka to the status of GSP+ under the European Union’s new GSP regulation. They also discussed bilateral matters related to investment facilities, import duties and fishery exports from Sri Lanka to the EU," read a joint statement issued after the discussions which took place on March 24.
"The EU and Sri Lanka also reviewed progress in the WTO Doha Development Agenda negotiations and expressed their hope that the Trade Facilitation Agreement would enter into force at the 10th WTO Ministerial Conference in December 2015."
"Sri Lanka’s proposal for possible funding in the areas of trade-related capacity building & development support for SMEs’ trade competitiveness in regional & EU markets under EU’s Regional Programming for Asia Multiannual Indicative Programme 2014-2020 is being favorably considered by the European Union.”
The EU stopped Sri Lanka's GSP+ benefits in 2010 for ongoing violations of human rights.