EU to cut Sri Lanka trade benefits over rights

European Union nations decided Monday to withdraw preferential trade benefits from Sri Lanka due to "significant shortcomings" on human rights issues, the EU Commission announced. The decision came after an "exhaustive investigation... identified significant shortcomings in respect of Sri Lanka's implementation of three UN human rights conventions," the commission said in a statement. The suspension of the GSP+ (Generalised System of Preferences plus) benefits will not take effect for six months "giving Sri Lanka extra time to address the problems identified," the EU executive added. http://www.eubusiness.com/news-eu/srilanka-trade.2ph