UK assures trade agreement with SL post-Brexit

The UK Government said it intends to provide continuity and stability to Sri Lanka’s current trade agreements with the EU, even after the Brexit comes into affect.

Minister of State for Trade and Investment Greg Hands said Sri Lanka’s exports to the UK are made under the EU’s unilateral trade arrangement, the Generalised Scheme of Preferences Plus (GSP+) at present.

“The Government intends to provide continuity and stability whilst leaving the EU, which includes maintaining the effects of our trading relationships as we leave. This includes the EU’s GSP scheme, and our trading terms with Sri Lanka, including human rights. When the UK has left the EU, we can look to improve on those trading agreements,” he said as responding to questions raised in the House of Commons this week.

Liberal Democrat Spokesperson Edward Davey asked whether the British Government plans to negotiate a trade agreement with Sri Lanka that replicates the existing agreement between that country and the EU after the UK leaves the EU.

He also asked whether the Secretary of State for International Trade plans for human rights monitoring and co-operation to be part of any future trade agreement with the Government of Sri Lanka. (Lahiru Pothmulla)