Tags: AS | Sri Lanka | EU

EU Restores Preferential Tax Concessions to Sri Lanka

Tuesday, 16 May 2017 05:46 AM

COLOMBO, Sri Lanka (AP) — The European Union has announced the restoration of a preferential tax concession to goods imported from Sri Lanka, a facility it withdrew seven years ago over alleged human rights abuses.

The EU is Sri Lanka's largest export market.

Tung Lai-Margue, ambassador to the delegation of EU to Sri Lanka told reporters Tuesday that the change would take effect on Friday. He said the tax concession, known as the Generalized System of Preferences, is being restored as an incentive to make further progress on human rights. It also recognizes efforts the government has made so far, though some issues remain.

The ambassador said torture and the prevalence of a draconian anti-terror law are among problems needing attention and the EU will monitor Sri Lanka's progress.

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The European Union has announced the restoration of a preferential tax concession to goods imported from Sri Lanka, a facility it withdrew seven years ago over alleged human rights abuses.The EU is Sri Lanka's largest export market.Tung Lai-Margue, ambassador to the...
AS,Sri Lanka,EU
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2017-46-16
Tuesday, 16 May 2017 05:46 AM
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