July 22, 2019
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    EU-Sri Lanka Trade Assistance launched

    November 17, 2016

    The European Union recently launched a EUR 8 million (LKR 1.3 billion) project that would help Sri Lanka to increase its trade competitiveness in regional and European markets.

    The project will be implemented over a period of four years by the International Trade Center (ITC) and the UN Industrial Development Organization (UNIDO) in collaboration with Sri Lanka Department of Commerce.

    The Financing Agreement for this project was signed by Finance Minister Ravi Karunanayake and Commissioner for International Cooperation and Development NevenMimica on 16th March this year.

    The project will help Sri Lanka to integrate WTO policies and regulatory reforms to make the most of the potential opportunities from the EU GSP Plus scheme and greater regional integration. It will also address compliance standards and efficiencies in cross border procedures, which are key constrains to market access, especially from SMEs. Specific attention will be given to enhancing value chains in the spice, food and IT Business Process Outsourcing sectors.

    A steering committee, co – chaired by the Ministry of National Policies and Economic Affairs and the Delegation of the EU will provide the overall direction to the project.

    Last modified on Tuesday, 22 November 2016 10:24

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