US GSP for Sri Lanka effective from April 22

(COLOMBO, LANKAPUVATH) –The re-authorised US Generelized System of Preference (GSP) to Sri Lanka will be in effect from April 22, the Industry and Commerce Ministry said.

US President Donal Trump re-authorised US GSP facility for 120 beneficiary countries (which was not renewed in December 2017) when he signed the US Omnibus Spending Bill on March 23.

US is the leading buyer of Sri Lankan exports over the years and it continued its lead last year.

Sri Lanka’s total exports to US last year was almost notching $3 Bn threshold at US$ 2.9 Billion.

This is a growth of 3.65% from 2016’s $2.8 Billion.

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