The expiration of US Generalized System of Preferences (GSP) for Sri Lanka is a routine issue and not a politically motivated move said Chairman, Sri Lanka National Chamber Exporters (NCE) Ramal Jasinghe.
He said some of the exports, such as apparel, tea, rubber and coconut based products would not be affected but nearly 3,000 other products would have an impact. He said that these include packaging material and plastic accessories as well.
The US Embassy in Sri Lanka said on December 29t hat the United States Congress did not re-authorize GSP before adjourning for the year.
Jasinghe said that they were confident that the expiration of US Generalized System of Preferences would soon be settled. The GSP entitlement for Sri Lanka and other beneficiary countries could be renewed and returned as soon as the US Congress re-authorises it at any time. “However what we are worried is the time it would take to put it right,” he cautioned.
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