Import ban not in line with WTO regulations; EU

Import restrictions have negative impact on SL and EU businesses

by Staff Writer 19-11-2020 | 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.