Sri Lanka Loses EU Trade Benefits: EU limits trade benefits for Sri Lanka due to shaky human rights record
The European Union said Monday it will curb Sri Lanka’s trade benefits because the country has refused to improve human rights.
The EU had given Sri Lanka six months from February to enact three U.N. accords on issues such as torture, children’s rights and civil and political rights, but the South Asian country did not.
EU foreign affairs chief Catherine Ashton said the EU regrets Sri Lanka’s decision “not to take up an offer made in good faith,” but the bloc will “keep the door open for Sri Lanka to return to talks.”
Sri Lankan fisheries products and clothing will from Aug. 15 be subject to new taxes.
EU officials gave no estimate of the financial impact of the loss of preferential treatment.
In 2008, Sri Lankan exports to the EU totaled euro1.24 billion ($1.55 billion).
In Colombo, Sri Lanka’s Media Minister Keheliya Rambukwella dismissed the EU’s move, saying the annual loss would amount to just euro85 million ($107 million). He reiterated that the government would not accept the conditions put forward by the EU.
Anthony Jones has got it all wrong. To hell with EU’s GSP+. We are a super Sinhala Buddhist Nation and we will produce goods and services over and above World’s best standards so that the western population will pay double the money to buy our superior products in a couple of years.
Anthony Jones does not understand development economics. HE Mahinda Rajapaksa is receiving unprecedented foreign assistance and loans in building new harbours, roads and other infrastructure to enable rapid industrialisation of the rural sectors.
Our village lassess will not have to make oversized underwear to adorn the bottoms of western women, at 1/2 price too because of GSP+. Our lads and lassess will be soon be manufacturing high-end tech items based on nano technology to produce superior quality products that will assist in maintaining the lifestyle of aging western populations. And those westerners will pay through their nose for our products. Otherwise they will all have to be soon locked up in homes for the aged. No more underwears please.
All this is due to excellent vision of HE Mahinda Rajapaksa and his team for the silver spooned Sinhala Buddhist Nation which has got rid of the 30 year curse brought about by the Sun God and his treacherous tamil followers.
Anthony, it is time you joined us in building this Nation. Open your eyes, Anthony, and welcome to this Lotus adorning Sinhala Buddhist Nation.
Good decision from Mahinda Government- We proud to have such a president – Real sri Lankan
go head we are with u HE Mahinda Rajapaksa