Sri Lanka risks US$1.23 billion loss if EU withdraws GSP+ trade benefits, warns new study
Sri Lanka could lose up to US$1.23 billion in export revenue if the European Union (EU) withdraws its preferential trade access under the Generalised Scheme of Preferences Plus (GSP+), according to a new report by the Institute of Policy Studies (IPS).
The study warns of severe economic and labour market repercussions, particularly for Sri Lanka’s key export sectors and its vulnerable workforce.