Srilanka, Nov. 5 -- Sri Lanka is preparing to reapply for trade concessions under the European Union's Generalised Scheme of Preferences Plus (GSP), with the government aiming to secure continued preferential access to the EU market beyond 2027 under a revised 10-year framework.

Deputy Minister of Finance and Planning Prof. Anil Jayantha Fernando disclosed this in Parliament today (05), responding to a question raised by Member of Parliament Ravi Karunanayake under Standing Order 27(2).

According to the Deputy Minister, the European Union's renewed Generalised Scheme of Preferences (GSP) framework is scheduled to come into effect on January 1, 2027, and will remain in operation until December 31, 2036.

Under the new framework, countri...