The European Union (EU) may be preparing to revoke the generalised system of preferences (GSP) status for Myanmar, according to U Zaw Min Win, chair of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), who said he was informed of the development by the EU and UK ambassadors but did not know the extent of pressure for that.
He told this during a meeting with vice president U Myint Swe earlier this week, according to a report in a Myanmarese newspaper.The European Union (EU) may be preparing to revoke the generalised system of preferences (GSP) status for Myanmar, according to U Zaw Min Win, chair of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), who said he was informed of the development by the EU and UK ambassadors but did not know the extent of pressure for that.#
The EU began considering a withdrawal of the GSP, granted to Myanmar in 2013, after reported incidents of violence against Muslims in the Rakhine state at the end of 2018. These privileges grant Myanmar duty-free trade with the EU, which mainly consists of garments. Later, a EU GSP study team also visited Myanmar.
Fibre2Fashion News Desk (DS)
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