EU urges Sri Lanka to work in full compliance with GSP+ commitments

Colombo [Sri Lanka], July 23 : The European Union (EU) expects the newly formed Sri Lankan government to work in full compliance with its GSP+ commitments.
According to the statement issued by the EU, over the years, the Union and its member states have provided more than EUR 1 billion in assistance to the Sri Lankan people. And the re-introduction in 2017 of preferential access to the European Single Market under the GSP+ scheme has been essential for Sri Lanka's economic development. "The EU expects the new Government to work in full compliance with its GSP+ commitments," it added.
The statement further reads that the current and future cooperation programmes (EUR 70 million) are being aligned with Sri Lanka's most pressing needs, Colombo Gazette reported.
"In addition to delivering medicines through the EU's Joint Civil Protection Mechanism, member states and the EU are closely monitoring food security on the island in order to fund actions targeting the most vulnerable communities," the EU further said.
Condemning the unwarranted use of force against peaceful demonstrators, the European Union (EU) has stressed the importance of the right to freedom of peaceful assembly and association.
The remarks came after a large military group, along with the police, launched a raid on Friday near the Presidential Secretariat and the protest site set up at Galle Face to clear the area of protesters. Several arrests were made.
The EU said that the urgency of the domestic situation requires the swift establishment and implementation of a structured plan of reforms in order to return the country's economy back onto a sustainable path. In this context, it is essential to safeguard human rights and the rule of law while fostering good and inclusive governance and promoting reconciliation efforts, according to Colombo Gazette.
The statement further added that the EU will continue to support all efforts in favour of the Sri Lankan people, aimed at returning to more stability and economic recovery and advancing reconciliation agenda, in full respect of democratic values.
As Sri Lanka scrambles to get back on track after the election of a new President, the people in the country, who are facing severe economic hardship, are still uncertain about the future.
Gotabaya Rajapaksa, who fled abroad after his palace was stormed by angry protesters amid the unprecedented economic crisis, had resigned from their post. And later on, Ranil Wickremesinghe was sworn in as President of the country. While Dinesh Gunawardena was sworn in as the prime minister of Sri Lanka.
After his official residence in Colombo was stormed by tens of thousands of angry protesters last week, Sri Lanka's ex-president Gotabaya Rajapaksa fled the country to the Maldives before flying out to Singapore.
Sri Lanka's economy is bracing for a sharp contraction due to the unavailability of basic inputs for production, an 80 per cent depreciation of the currency since March 2022, coupled a lack of foreign reserves and the country's failure to meet its international debt obligations.
Hundreds of Sri Lankans continue to queue up at petrol pumps across the debt-ridden country every day amid fuel shortage, and a large number of people are ditching their cars and motorcycles for bicycles for their daily commute.