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How can be economy growth by protecting human rights - Harsha Gunasena (chartered Accountant)
(2020-03-06)

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The European Union recently released a report on the GSP + concession. That is related for 2018 and 2019. This article related on the description of that report by Chartered Accountant Harsha Gunasena.

GSP + concession

Import duty concessions were granted on goods exported from our country to the EU. It is a huge relief. For example, in the case of garment exports, some tariff-free products are subject to a nine percent tariff, which is eliminated by the GSP + concession. With this concession, the EU exports more than 30%of the total exports of goods to us country. It is near to 1/3. Accordingly, the EU is one of the main import destinations of our country. The European Union has imposed certain conditions for this concession. These conditions do not bring any profit to the EU. These conditions require that we implement the 27 international treaties we have signed with the United Nations. The ordinary people living in our country benefit from implementing these conventions. Especially for the oppressed. It could be women, children, unions. By taking advantage of this, their human rights are protected. Their sovereignty is protected. Secondly, this export concession strengthens the exporter’s business in the country. And our economy is strong. This process benefits us from two sides. The EU has no advantage. Their goal is to ensure that the human rights and values ​​that they value are implemented in our country. In general, if we export to a foreign company in accordance with the global norms, the company intends to create the best facilities for workers without child labor. Then they sell products under their brand name. It is a strength to their brand. The EU hopes the same thing.

The export of goods from our country to the EU has increased in recent years. More goods have been exported. This has been a benefit to our country’s account balance deficit. Sri Lanka’s exports are always lower than imports. Therefore, increasing exports benefits our account balance. The wages of employees of companies that export goods are increasing. As more orders come in, more employees will be hired. In all these ways, we get relief. In addition, they have forced our government to provide various concessions such as the loss of child labor in our country, equal rights for the oppressed women and the protection of trade unions.







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