Thursday Nov 21, 2024
Thursday Nov 21, 2024
Monday, 19 July 2021 03:37 - - {{hitsCtrl.values.hits}}
The Joint Apparel Association Forum (JAAF), yesterday expressed optimism over the possibility of securing an industry-critical extension of EU GSP+ program after its most recent round of discussions with the State Ministry of Regional Cooperation.
The meeting last week was the third in a series of discussions initiated with the support of Youth and Sports Minister Namal Rajapaksa and Regional Cooperation State Minister Balasuriya, with the goal of creating a platform for the industry to deliberate with key Government officials over issues faced by the apparel sector.
The most recent meeting was attended by Balasuriya, Foreign Secretary Admiral Prof. Jayanath Colombage, officials of the Ministry and representatives of JAAF and focused on the importance of GSP+ to the apparel industry, and the wider economy, as well as progress on reforms and related discussions aimed at securing the facility.
“We were pleased to learn that the Foreign Ministry will continue to engage with the EU both on the Joint Commission and the Monitoring Mechanism of the EU GSP+ regime, while a sincere and committed effort is also being made to directly address all of their concerns. Based on the progress we are seeing, we are hopeful that a continuation of GSP+ can be secured,” JAAF Secretary General Tuli Cooray said.
The meeting builds on the process of continuous engagement that JAAF has with the State Ministry on this important topic of GSP+. GSP+ benefits a number of industries besides apparel, fisheries, ceramics and agriculture.
Notably, products exported to the EU fall under a total of 42 HS chapters which have a GSP+ utilisation of over 75%. These varied industries have been contributing to the diversification of the country’s export basket which in itself is one of the objectives of the EU GSP+ program. These include a large number of Small and Medium Enterprises, which would be severely impacted by the loss of GSP+ and consequent increase in duties levied against Sri Lankan exports.
