The European Union (EU) will stop giving Sri Lanka preferential access to its market from August 15 since Colombo has failed to give a written undertaking on human rights issues.
The Sri Lankan garment industry stands to lose about $150 million by way of markets and exports to the EU following the withdrawal of the export concession by the 27-nation bloc.
Source: Exim News Service, Colombo, 07 July 2010