By: Staff Writer
June 15, Colombo (LNW): Sri Lanka has launched an urgent campaign to secure continued access to one of its most valuable trade concessions, as officials work against the clock to qualify for the European Union’s next Generalised Scheme of Preferences Plus (GSP+) cycle before March 2027.
The preferential trade arrangement, which grants tariff-free or reduced-tariff access to thousands of products entering the EU market, has become a cornerstone of Sri Lanka’s export economy. More than 80 percent of Sri Lankan goods exported to Europe currently benefit from the scheme, helping local manufacturers remain competitive in a demanding global marketplace.
The stakes are enormous. The European Union represents a market worth approximately €3.7 billion for Sri Lankan exports and generates a significant trade surplus for the island nation. With the existing GSP+ framework scheduled to expire on December 31, 2027, authorities are treating the renewal effort as an economic priority.
Sri Lanka Export Development Board (EDB) Chairman Mangala Wijesinghe has revealed that the government has received approval from the highest political levels to begin the formal reapplication process. According to him, officials are implementing a broad package of legislative, regulatory, and human rights reforms designed to satisfy the EU’s demanding eligibility criteria.
At the center of the effort is compliance with 27 international conventions covering human rights, labor protections, environmental safeguards, and governance standards. Government agencies are now reviewing domestic laws to ensure they align with international obligations.
Particular attention has focused on legislation that has attracted criticism from international observers. Authorities are reportedly preparing significant legal reforms, including amendments to the Online Safety Act, to address concerns surrounding freedom of expression and civic liberties. Additional measures are also being developed to meet obligations related to disability rights and the prevention of child involvement in armed conflict.
Behind the scenes, officials are seeking technical support from European authorities to strengthen Sri Lanka’s compliance monitoring systems. The government is looking to modernize certification procedures, improve factory inspections, and establish stronger mechanisms for tracking labor and environmental standards.
Industry stakeholders are also being drawn into the process. The EDB, in collaboration with the Joint Apparel Association Forum (JAAF), is conducting training programs aimed at helping exporters diversify into underutilized product categories that enjoy duty-free access under the scheme.
Officials are also building documentation and verification systems capable of providing tangible evidence that Sri Lankan industries meet EU requirements.
For many exporters, the renewal effort has become a matter of economic survival. The EU absorbs nearly one-quarter of Sri Lanka’s total exports, while an estimated €1.5 billion worth of goods depend heavily on GSP+ concessions to remain competitive against regional rivals.
As the countdown to 2027 continues, the success or failure of Sri Lanka’s reform agenda could determine the future of one of the country’s most important export markets.
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