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Monday, 18 April 2011

Council extends current GSP scheme

The Council agreed on a temporary extension of the validity of the current scheme of generalized tariff preferences until a new scheme enters into force (10/11). This measure will allow the current Generalised Scheme of Preferences (GSP), which runs until 31 December 2011, to ensure continuity in the operation of the scheme beyond that date, until the next GSP is adopted. Since 1971, the European Union has granted trade preferences to developing countries in the framework of its GSP. The GSP has been implemented through successive regulations with periods of application of three years at a time. The current scheme was established by Regulation No 732/2008 as from 1 January 2009.

Source: Council of Ministers

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