The Ceylon Chamber of Commerce has called for a careful review of recent draft legislation, including the proposed Protection of the State from Terrorism Act (PSTA) and the Prevention of Organised Crime Act, to safeguard Sri Lanka’s economic competitiveness, investor confidence and continued access to the European Union’s GSP+ trade concession.
In a statement, the Chamber said it has already submitted its observations on the proposed PSTA and is currently finalising its views on the Prevention of Organised Crime Act, which will be communicated to the relevant authorities shortly.
While acknowledging the government’s efforts to strengthen national security and address emerging challenges, the Chamber stressed the importance of ensuring that the proposed legislation contains clear definitions, appropriate judicial oversight and adequate due process safeguards.
It noted that such measures are essential to maintaining investor confidence, legal certainty and Sri Lanka’s reputation as a predictable, rules-based destination for international trade and investment.
The Chamber also emphasised the importance of protecting Sri Lanka’s continued access to the European Union’s GSP+ trade concession, which plays a significant role in supporting exports, employment, foreign exchange earnings and economic growth.
In this regard, it urged the government to ensure that new legislation aligns with Sri Lanka’s international commitments and internationally accepted standards to strengthen the country’s prospects of retaining GSP+ benefits.
The Ceylon Chamber further reaffirmed its commitment to engaging constructively with policymakers and other stakeholders to ensure that legislative reforms address national priorities while supporting economic growth, competitiveness and sustainable development. (Newswire)