GSP from EU and Britain to be continued for Sri Lanka
Although Britain will move out from the EU from 1st January next year, the United Kingdom's Department of International Trade has confirmed that EU will continue to provide the GSP + tariff concession for Sri Lanka.
About 40 percent of Sri Lanka's exports are garments, and UK is the the second largest importer from Sri Lanka.
Although the EU tax concession will not apply to Britain from next year, the United Kingdom's Department of International Trade has announced that the UK will be extending GSP Plus tariff concession to countries that have received the GSP plus tax relief from EU. previously.
It is also expected that the tariff concession from Britain will be effective until 2023.