November 21, 2018

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    15% duty exemption on fish exports with GSP+ concessions

    January 26, 2017

    GSP+ concessions would massively benefit Sri Lankan fish exports industry, said Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera.


    The exports industry during last 3 years had been devastated due to the withdrawal of GSP+ concession and the government had to limit the allocations for development programs due to the unavailability of desired incomes from the exports industry.

     


    With the decision of the European communities to rearward the GSP+ concession to Sri Lanka, not only the apparel exports industry but also the fish exports industry will be able to reach new heights. Minister emphasized that Sri Lankan fish exports will be given a 15% duty exemption which will result in a higher foreign exchange income and a higher proportion of fish exports.

     


    13,932 metric tons of fish had been exported to foreign countries in 2016 earning an income of Rs 21,539 million out of which 1,817 metric tons had been exported to European union countries, 515 metric tons to other European countries, 4,088 metric tons to USA and 1,717 metric tons to Japan.

     


    Tuna exports in 2016 have been reported as 7,113 metric tons with an income of Rs. 11, 243 million where 1,216 metric tons had been exported to EU countries, 379 metric tons to other European countries, 2,498 metric tons to USA and 253 metric tons to Japan.

     


    Following the 15% duty exemption from GSP+ relief, Sri Lanka will be increasing the amount of fish exports and earning a higher income of foreign exchange.

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