Switzerland urges Sri Lanka to use Swiss GSP facility

Switzerland is urging Sri Lanka to increase exports to the Swiss market using the former's own GSP facility. This offer came during a recent meeting between Ambassador of Switzerland to Colombo Heinz Walker-Nederkoorn and Minister of Industry and Commerce Rishad Bathiudeen.

"Bilateral trade between Sri Lanka and Switzerland shows a strong short term growth. Still that could be way below real potential," said Mr. Walker-Nederkoorn, in a media release issued by the Ministry.

"Switzerland is a central European country but is not part of European Union. Our own Swiss GSP was implemented in 1971. Sri Lanka is still a beneficiary of a pioneering GSP facility that came in to being at the same time as the EU GSP. Sri Lankan exporters should strive to exploit this facility. Switzerland's economy has a well-developed service sector such as financial services but it can take in merchandise products and there is a demand. Exploiting our GSP can help boost your exports and also increase total bilateral trade. Swiss manufacturing industry specializes in high- technology and production," the ambassador was quoted as saying.

The release said that according to UNCTAD, the Swiss GSP facility allows many Sri Lankan products to be exported totally tariff free to the Swiss market. Among them are Sri Lankan apparels and textiles ( except HS 5001- 5003, 5101, 5103,5201- 5203,5301- 5305, & 6310), coconuts and dessicated coconuts, footwear, headgear, electrical machinery, certain fruits tropical fruits and spices, live ornamental fish, certain types of freshwater fish, types of cut flowers and foliage, tomatoes, onions and garlic, cabbages and cauliflower, types of beans, sweet corn, chick peas and kidney beans, ginger, and even mustard and turmeric.