Sri Lanka will receive tax concessions under the Generalised System of Preferences Plus from May 19, the European Commission confirmed at a media briefing today.

Sri Lanka lost the GSP+ trade preference in 2010 under mounting allegations of human rights abuses under the previous government.

The initiative to regain GSP+ trade concessions was begun under the current national unity government and will entail the full removal of duties on 66% of tariff lines.

This covers a wide range of products including textiles and garments, fisheries products, rubber products and machinery.