With a delegation from the European Union expected at the end of next month, the government is hard-pressed for the fulfilment of obligations including the repeal of the Prevention of Terrorism Act and the amendment of the Online Safety Act to qualify for the Scheme of Preferences Plus (GSP+) under the new guidelines being worked out, Daily Mirror learns from diplomatic sources.
The government is also required to improve anti-corruption measures.
European Union is revising the criterion for beneficiary countries to qualify for GSP+ starting from 2027.
GSP+ is a special incentive arrangement for sustainable development and good governance. GSP+ slashes the tariffs to zero for vulnerable low- and lower-middle income countries that implement 27 international conventions related to labour and human rights, environmental and climate protection, and good governance under the current system.
Compliance with the principles of all including environmental and good governance conventions will become mandatory for the beneficiaries, according to sources. Also, a procedure has been laid down for the rapid withdrawal of the facility in case obligations are not fulfilled.
For GSP+ beneficiaries, a two-year transitional period will be given to ratify newly added conventions. They will have to submit a detailed implementation plan for all conventions to be included in the system.
European Union has already informed that the PTA in its current form is unacceptable.
In the new system, good governance aspects include fight against corruption- introduction of meaningful measures preventing corruption, bribes and a reliable transparent public tender procedures.
Sri Lanka once lost the GSP+ . The country received it back in 2017 with the promise to repeal the PTA.
Sri Lanka- European Union trade volume stands at US $ 3.2 billion. The trade balance is in favour of Sri Lanka.