Import restrictions have negative impact on SL and EU businesses

Import restrictions have negative impact on SL and EU businesses

Import restrictions have negative impact on SL and EU businesses

Written by Staff Writer

19 Nov, 2020 | 3:59 pm

Colombo (News 1st); The Delegation of the European Union (EU) and the Embassies of France, Germany, Italy, Netherlands and Romania have stressed the current import restrictions are having a negative impact on Sri Lankan and European businesses, and on Foreign Direct Investment.

Such measures impair Sri Lanka’s efforts to become a regional hub and negatively impact Sri Lankan exports by constraining the import of raw material and machinery, they added.

A statement noted a prolonged import ban is not in line with World Trade Organisation regulations.
 
Sri Lanka’s withdrawal of support for the United Nations Human Rights Council Resolution 30/1 remains a source of concern, it further said adding the EU stands ready to support the Government’s efforts in this area.

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