Losing GSP+: Petty political revenge or Sri Lanka's economy?

Wickyz wrote:GSP +
Gsp  +

මම තමයි හොදටම කරේ

මීට
නන්දසේන  ගෝටබය

ADVENTUS wrote:
https://www.ft.lk/news/EU-Parliament-Resolution-throws-down-the-gauntlet-on-GSP/56-719095#.YMLvqmxSEQA.twitter

ColomboCSE wrote:ගිය පාර GSP+ නැති උනාම ගොඩක් export කොම්පැනි වලට කෙල උනා. මේ පාර මම හිතන්නේ නැ ගියපාර තරම් කොම්පැනි  වලට බලපානවා. මොකද GSP+ මතම යැපෙන කොම්පැනි දැන් නැ නේද? මොකද කට්ටිය ගේ අදහස්.

dayandacool wrote:

ColomboCSE wrote:ගිය පාර GSP+ නැති උනාම ගොඩක් export කොම්පැනි වලට කෙල උනා. මේ පාර මම හිතන්නේ නැ ගියපාර තරම් කොම්පැනි  වලට බලපානවා. මොකද GSP+ මතම යැපෙන කොම්පැනි දැන් නැ නේද? මොකද කට්ටිය ගේ අදහස්.

Know the facts please. You sound more like Nandasena.

SL's largest trade partners as at 2017 was US + EU

US= 24.47%
EU= 13.94% (mainly UK and Germany)

Total is staggering 38.41%  

https://wits.worldbank.org/CountryProfile/en/Country/LKA/Year/2017/TradeFlow/EXPIMP/Partner/by-country#:~:text=In%202017%2C%20Sri%20Lanka%20major,Arab%20Emirates%2C%20Singapore%20and%20Japan.

samaritan wrote:Pakistan too faced a similar dilemma a little over a month ago and the facility is under review but no conclusive decision has been arrived as yet.


https://www.geo.tv/latest/348033-eu-parliament-wants-pakistans-gsp-plus-status-reviewed


GSP+ facility is extended to developing countries subject to compliance with 27 human rights conventions and progress is monitored on a periodic basis.
EU's resolution is based on the presumption that there was lack of progress in certain areas of concern in relation to PTA and detention of certain individuals under this act.


In my opinion our rulers diplomacy is now subject to an acid test, but the facility will not be withdrawn abruptly or overnight as what we can see in Pakistan's case especially in the midst of a pandemic.


Let's see how the govt is going to resolve the issue and make the anticipated quantum leap of the nation's economy a reality.

dayandacool wrote:Know the facts please. You sound more like Nandasena.

SL's largest trade partners as at 2017 was US + EU

US= 24.47%
EU= 13.94% (mainly UK and Germany)

Total is staggering 38.41%  

https://wits.worldbank.org/CountryProfile/en/Country/LKA/Year/2017/TradeFlow/EXPIMP/Partner/by-country#:~:text=In%202017%2C%20Sri%20Lanka%20major,Arab%20Emirates%2C%20Singapore%20and%20Japan.

ColomboCSE wrote:

dayandacool wrote:Know the facts please. You sound more like Nandasena.

SL's largest trade partners as at 2017 was US + EU

US= 24.47%
EU= 13.94% (mainly UK and Germany)

Total is staggering 38.41%  

https://wits.worldbank.org/CountryProfile/en/Country/LKA/Year/2017/TradeFlow/EXPIMP/Partner/by-country#:~:text=In%202017%2C%20Sri%20Lanka%20major,Arab%20Emirates%2C%20Singapore%20and%20Japan.

Mr. dayandacool no please don't compare me as Gov. supporter( buiyyo   ) i`m not like that. Actually I want to know the real impact about this as investor,

We lost this in 2010 and it really damage SL apparel and more.. I don't want to explain more, we all know how many companies closed due to that in 2010. only few companies manage it  

Again SL have this GSP+ in 2017, if we compare 2017 to now 2021, we don't have much companies like 2004 to 2010 really damage this like old days. B'cos the companies now they know how to manage this without GSP+(MAS,Brandix,Hayleys)


2017 to now, we don't have new companies first time face this issue.


But of'cos old companies  will affect this again with their profit, SL will reduced foreign currency.


my point is if we compare 2010 and 2021 we haven't that much damage GSP+.


main damage is, the way Gov. is managing SL.

madukp wrote:This is a somewhat controversial issue, and we don't need to be panic at all. The fact, we don’t have many listed companies that are exposed to EU Markets.  Gov main fault is not focusing on building up an independent economy and keep following EU, US markets. No country should have an ethical right to demand over other countries sovereignty, low and independence. EU is been a cheep political junkies always push countries using their authority using their trading power. The main reason behind this is Srilankan favoritism to China, nothing else. Been said that SL should see build up good relationships with all over the world, not limiting to a country or two. Meanwhile, our experts should focus on build up their business without depending 3rd party other factors, like GSP+. HAYL group faced this issue before also when the bans applied during 2010. With the experience of 2010- 2017, Hopefully, the HAYL group may come up with solid backup plans as of now. Similarly, other companies also might have their own recovery plans. Anyway, we can ignore the impact on the listed garments. Garments like TJL may be heavily impacted by this.

Wickyz wrote:Court of Appeal grants bail to Shani Abeysekara
Wed, Jun 16, 2021, 10:48 am SL Time, ColomboPage News Desk, Sri Lanka.


June 16, Colombo: The Court of Appeal granted bail to former Director of the Criminal Investigations Department (CID) SSP Shani Abeysekara and Sub Inspector Sugath Mendis of the Embilipitiya Police who were remanded by the Gampaha Magistrate's Court.

The Court of Appeal informed the Gampaha High Court to release SSP Shani Abeysekara and SI Mendis accordingly.

Shani Abeysekara was remanded by the Gampaha Magistrate's Court on a charge of fabricating evidence in a case filed against a group of suspects including former DIG Vass Gunawardena.

He filed a petition in the Gampaha High Court seeking his release on bail. The Gampaha High Court which heard the petition rejected Shani Abeysekara’s request for bail.

Accordingly, Shani Abeysekara filed the revision petition in the Court of Appeal requesting that the decision of the Gampaha High Court be reversed and that he be released on bail.

samaritan wrote:Response to Resolution adopted by European Parliament Government in process of revisiting provisions of PTA


https://www.dailymirror.lk/front_page/Response-to-Resolution-adopted-by-European-Parliament-Government-in-process-of-revisiting-provisions-of-PTA/238-214098