Sri Lanka eyes comprehensive trade agreement with EU

Daily FT reports that Finance Deputy Minister Dr. Anil Jayantha Fernando told Parliament the government intends to apply again for concessions through the European Union’s Generalised Scheme of Preferences Plus (GSP+). He said the aim is to keep preferential access to the EU market after 2027. Ada Derana reports that Sri Lanka is preparing a new application as updated EU trade rules begin in 2027.

Daily FT says the application would be made under the EU’s new framework, which it describes as lasting 10 years. Separately, Daily Mirror reports that Sri Lanka is considering a comprehensive trade agreement with the EU as a way to secure long-term access to the European market.

Daily Mirror reports that the EU has agreed to finance a four-year initiative to strengthen sustainable trade ties with Sri Lanka, citing a government announcement. The reports provide no further details about the initiative or the timing of the proposed GSP+ application.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.