"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
Sri Lanka Suffering Without US GSP
Sri Lanka is facing considerable losses as a result of the failure by US Congress to renew the Generalized System of Preference – also known as GSP –
since last December. Congress had not met to discuss the renewal of the US GSP for any of the countries who stand to benefit from the trade concession and as a result it now stands suspended. Sri Lanka and several other countries wrote to the US Senate last week seedling the urgent renewal of the trade concession. The Sri Lankan Ambassador to the United States Jaliya Wickramasuriya, who was a signatory to the letter on behalf of Sri Lanka, said that imports of products from Sri Lanka to the US have seen a drastic drop since the trade concession was suspended.Ambassador Wickramasuriya said that the lack of US GSP has caused Sri Lanka to lose top supplier positions in products in which it held strong market niches. Overall US imports of construction vehicle tires increased by nearly ten percent in the first seven months of 2011. However, imports from top supplier Sri Lanka dropped by 28.5 percent as a result of the US GSP suspension, pushing the country down to the number two supplier position. As a result, China leapfrogged into the top supplier position with an import increase of more than 50 percent, the letter sent to the US Senate said. US imports of gold and silver jewelry from Sri Lanka have also taken a hit with gold jewelry imports to the US from Sri Lanka dropping 26.5 percent, Ambassador Wickramasuriya said. Sri Lanka and other US GSP beneficiaries say the decrease in imports is causing job losses, economic declines in many industries and regions, and a drop in competitiveness for critically needed investment for the respective countries.
17 Comments for “Sri Lanka Suffering Without US GSP”
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Leelananda
No we don’t need USA. We will teach a lesson to you.We will shout down our factories.
Mahinda Rajapaksa.-
LOVE2be1TRAITOR
its so funny some morons think sri lanka’s economy is the largest in the world n can survive anything. sri lanka is a third world country. some idiots r suggesting we can export to china. hahaha
china is itself a producer n y export from sri lanka?for those of u who dont still understand, we have enough hambantota modays in our country n would we ever import more few modays? same, china has its garments n chinese cant afford to buy imported garments
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Yehiya-Doha
After war winning, swollen head is created all problem. I am very shame & shock of Tissa, Dew, & Rajitha how they sitting with the government.
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LOVE2be1TRAITOR
the reason y US isnt giving GSP is simply coz US cant afford to give tax consession to any country as US is itself suffering from resession
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len
Sri Lankan economy is so resilient strong and robust now losing some exports to USA will not make any difference other countries around the globe are waiting in line to jump at the chance to import Sri Lankan products. As mention few days ago by RB Governor fact is Sri Lanka has no need for next instalment from IMF if the deal go forward it will be only to full fill the contractual agreement.
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KABAB
Should check with Cabraal. Not only he, most of the govt goons uttered that Sri Lanka will not depend on GSP+. And now why news like these?
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Randi
I thought we did not like the western countries, so why do we have to depend on them?
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Siddeeq
We need a leader who can save our country from international isolation. As long as so many fools are there behind our leader nobody can do anything to uplift our country,including world super powers.
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Karua
We should export to China
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Dingo
it will continue to suffer until an international investigation is conducted. SL must remain a third world country
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Womat
Len, SL economy is a third world economy. It is living in billions of borrowed money. You are a fool to belive the rubbish that comes out from your stupid politicians. SL is going down the third world drain
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S L Will never be stable as far as the economy is concerned becouse MR & Co. are swindling left ,right & centre, the entire revenue made is not enough to pay the interest for the foreign loans, specially the Chinese loan, SL can never survive as long as the family rule goes on, its a pitty to think back what a beautifull wealthy country SL was, every penney that comes goes into the family Bank account.
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May be when the Investigation is over, the country can redeem the wealth now in the pockets of those in power.
Like the gold collected byLTTE that has been recovered after the war.
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HUD
I may be true, but economic advantage is not the only thing that we have to consider when governing a country. For example, we do not agree to China’s agenda in the future, they might withdraw from supporting Sri Lanka and we will suffer. So that problem should not make use agree to whatever China wants in the future. Even it is painful, we have to take the right decision at the correct time.
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marcus fernando
set of donkeys ruling the country.
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Lanka Muslim, UK
Do not worry we are now beginning to understand that “we should embrace the West or be embraced by the West”. Otherwise we cannot survive. Therefore we warmly accepted the embrace from Bill Clinton and the smile from Barak Obama. Of course, we hope our friend Wimal will not stage a demonstration against the embrace.
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Ruwan
Think about what they said about below two items:
FEW MONTHS BACK:
1. We never need the GSP since there are other countries to export
2. We never need the next installement from IMF since our economy is goodNOW:
1. Begging for GSP and US targeting to balance the import and export which has 1.5 billion in favour of Lanka
2. IMF hold the next installment due to the failure to meet their conditi
- Entries (RSS)
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Global Peace Support Group UK Ltd is a registered organisation based in London. The organisation dedicated to be involved in humanitarian and other related issues. We also work along with other similar organisations to promote peace and harmony among various societies..
GLOBAL PEACE SUPPORT GROUP - UK - TIRELESSLY WORK ON THE CONCEPT OF:
"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
MOURNS ON THE CONTINUED TRAGEDY OF THE PEOPLE OF North & East of Tamil EELAM WITH THE HOPE OF ALL OF OUR ENDEAVOURS WOULD BRING AN END TO THOSE SUFFERING DURING THE YEAR AHEAD.
The International community has a duty towards the long suffering Sri Lankan Tamil population to restore their rights of SELF DETERMINATION.
Global Peace Support Group - believes that this is the ONLY way for a permanent PEACE in Sri Lanka.
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