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GSP + withdrawal a huge blow to  SL economy
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Colombo News Desk CND on 28 February, 2010 05:51:00
 
National chamber of Exporters (NCE) President Sarath De Silva said , at a time
when the country’s economy is reeling with the Govt. at its wits end not
knowing how to resuscitate it , the loss of GSP + at this juncture constitutes a
fatal blow to SL’s economy.
The GSP + was first worked out for  SL on the initiative of Ranil Wickremesinghe
when he was the Prime Minister . The GSP + concession which served as a great
boost  to SL exporters particularly ,and a great economic boon to the country as
a whole  continued until recently when the European Union (EU) market , the
promoters  of it found fault with the  SL Rajapakse  Govt. for violation of
human rights – one of the conditions for the granting of GSP + , when the EU 
reviewed the annual performance of SL for the next term.
The GSP+ was a concession to help SL to hold itself viably in the international
export market when competing with other foreign countries ,
Therefore the withdrawal of the GSP + concession in the present context when
cost of production of SL products to the EU  is extremely high further
compounded by high energy costs and financé costs in the country , the Govt.
allowing the GSP + concession to slip away  is most detrimental to the already
dwindling economy , the NCE President regretted.