STEADFAST SRI LANKA VOWS TO CONQUER GSP+ SETBACK
August 1st, 2010
BY MUNZA MUSHTAQ
IF proof were needed that politics and business do not always mix well, look no further than Sri Lanka's knitwear industry. The European Commission has announced as of August 15, Sri Lanka has been suspended from its Generalised System of Preferences (GSP+) preferential trading regime, providing access to European Union (EU) markets for countries that abide by certain principles of good governance and human rights.
For Sri Lanka's knitwear industry, that has meant duty-free exports to the EU for knitted and crocheted fabrics and apparel. This ...
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