By: Staff Writer

October 27, Colombo (LNW): Aligned with its Indo-Pacific Cooperation Strategy and the Sustainable Development Goals (SDGs), the European Union has launched a Multiannual Indicative Programme for 2021-2027.

This initiative, focused on ‘Green Recovery’ and promoting an ‘Inclusive and Peaceful Society,’ directs €60 million in grants to support EU-Sri Lanka collaboration from 2021 to 2024.

Key efforts include the participation of EU Member States active in Sri Lanka—such as Germany, France, and the Netherlands—under the Team Europe approach. Additionally, the EU is exploring avenues to advance its Global Gateway Strategy within the country.

President Anura Kumara Dissanayake recently met with EU representatives led by Ambassador Carmen Moreno, discussing Sri Lanka’s current security measures aimed at ensuring safety for both tourists and residents, according to the President’s Media Division (PMD).

The President assured the delegation of strengthened security protocols in popular tourist zones through increased law enforcement and emergency response services.

The European Union is a significant partner to Sri Lanka, as the nation’s second-largest market for exports and tourism, and its third-largest source of imports.

During the discussions, the EU Delegation reaffirmed its support in expanding Sri Lanka’s market access within the EU, improving employment prospects, and increasing tourism.

 The EU also pledged to bolster knowledge exchange and support reforms in education, social security, and anti-corruption measures.

The Delegation highlighted its commitment to strengthening critical sectors such as vocational training, maritime investment, and the peace and reconciliation process.

 They expressed intentions to work closely with Sri Lanka to further these mutual goals. Commending the peaceful conduct of Sri Lanka’s recent Presidential Election,

The EU – Sri Lanka Trade-Related Assistance Project aims to increase the trade competitiveness of Small and Medium-Sized Enterprises (SMEs) in regional and European Union (EU) markets.

The 4 year EU-funded project, worth EUR 8 million, contributes to inclusive trade led growth and regional integration. It supports SME export competitiveness and value addition in sectors with high potential for economic growth and development.

The project helps Sri Lanka integrate the policies and regulatory reforms of the World Trade Organization (WTO), allowing SMEs to make the most of the potential opportunities resulting from the EU Generalised Scheme of Preferences (GSP) Plus.

It also enables greater regional integration within the South Asian Association for Regional Cooperation (SAARC).

The project addresses compliance standards and efficiencies in cross border procedures, which are key constraints to market access, especially for SMEs. Specific attention is given to enhancing value chains in the spice, food and InformationTechnology/Business Process Outsourcing (IT/BPO) sectors.