The government’s current import restrictions are having a negative impact on Sri Lankan and European businesses, and on Foreign Direct Investment, the Delegation of the European Union (EU) said Thursday.

Issuing a statement together with the Embassies of France, Germany, Italy, Netherlands and Romania, the EU noted that the trade, is not a one-way street and government’s measures impair Sri Lanka’s efforts to become a regional hub and negatively impact Sri Lankan exports by constraining the import of raw material and machinery.

“We recall that a prolonged import ban is not in line with World Trade Organization regulations,” the EU delegation said.

http://www.colombopage.com/archive_20B/Nov19_1605773509CH.php