Sri Lanka trade body warns new laws could risk EU GSP+ benefits

EconomyNext, Newswire and Lanka Business Online report that the Ceylon Chamber of Commerce has provided its observations on the proposed Protection of the State from Terrorism bill. Newswire and Lanka Business Online say the Chamber is preparing its position on the proposed Prevention of Organised Crime bill and expects to send it to the relevant authorities soon.

Newswire and Lanka Business Online report that the Chamber recognised the government’s aim of strengthening national security and responding to new challenges. The same outlets say it called for close scrutiny of the draft laws, including specific definitions, court supervision and protections for due process; EconomyNext also reports its call for these safeguards.

EconomyNext, Newswire and Lanka Business Online report that the Chamber linked such protections to confidence among investors, legal predictability and Sri Lanka’s standing as a dependable, rules-based place to conduct trade and investment. The three outlets say it also underscored the significance of retaining the European Union’s GSP+ concession, which supports Sri Lankan exports, jobs, foreign-currency income and economic growth.

EconomyNext, Newswire and Lanka Business Online report that the Chamber urged alignment of new laws with Sri Lanka’s international obligations and accepted global standards, saying this could improve the country’s chances of keeping GSP+ benefits. They also report that it intends to work with policymakers and other stakeholders so reforms meet national priorities while advancing economic growth, competitiveness and sustainable development.