The GSP+ facility will bring benefits directly to the fisheries industry and exports, Fisheries and Aquatic Resources Development Minister Mahinda Amaraweera said.
He said there is a high tendency to increase fish prices now due to the increase in fish exports with the GSP+ facility taking effect from today. He said in that case low price fish imports will also increase.
Amaraweera said that tax will be reduced between 18 to 22 percent from fish exports to the European Union.
Minister Mahinda Amaraweera and Sea Food Exporter's Association of Sri Lanka President Prabash Subasinghe entered into a Memorandum of Understanding on a fisheries improvement project in Sri Lanka for tuna fish.