Ceylon Chamber warns new laws could risk EU GSP+ benefits

Sri Lanka
By Editor_1

COLOMBO – The Ceylon Chamber of Commerce (CCC) in its observations on the proposed Protection of the State from Terrorism (PST) Bill, has called for safeguards to protect legal certainty, investor confidence and Sri Lanka’s international trade commitments.

The country’s leading private sector trade body, which is finalizing its position on the proposed Prevention of Organized Crime Bill, said recent draft legislation required careful scrutiny to ensure clear legal definitions, appropriate judicial oversight and adequate due process safeguards.

It said such measures are essential to maintaining Sri Lanka’s reputation as a predictable, rules-based destination for trade and investment.

It also underscored the importance of safeguarding Sri Lanka’s continued access to the European Union’s Generalized Scheme of Preferences Plus (GSP+) trade concession, which plays a significant role in supporting exports, employment, foreign exchange earnings and economic growth.

The Chamber said it had urged that new legislation be aligned with Sri Lanka’s international commitments and internationally accepted standards to strengthen the country’s prospects of retaining GSP+ benefits.

It reaffirmed its commitment to engaging constructively with policymakers and other stakeholders to ensure that legislative reforms address national priorities while supporting economic growth, competitiveness and sustainable development.

–ENCL

Editor_1
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