The government was to formally submit the application for GSP+ to the European Union in Brussels last evening, Deputy Foreign Minister Dr. Harsha de Silva said yesterday.

Speaking to the media at a press conference in Colombo, he also expressed hope that the application will be accepted and the GSP+ will be granted in the next six months.

However, he argued that the full advantage of the GSP+ will be denied to Sri Lanka as the UK was leaving the EU, since 35 percent of Sri Lankan exports to Europe go to the UK.

He added that the UK's leaving from the EU will affect negatively in many ways to the Sri Lankan economy. The government must now speed up the discussions on the ETCA and the trade agreements with China, he added.