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Tuesday, 12 July 2011

The EU proposes a new GSP as of 2014

The European Commission plans to concentrate its import preferences on those developing countries most in need. It will limit its Generalised System of Preferences (GSP), with which it grants specific tariff preferences to developing countries in the form of reduced or zero tariff rates or quotas, to approximately 80 countries due to the emergence of more advanced developing countries which are now globally competitive. At the same, time the Commission seeks to encourage more countries to respect core international conventions on human rights, labour standards, environment and good governance in the GSP+ scheme which grants additional trade concessions to vulnerable countries. [...] Whilst the generous product coverage and preference margins would remain unchanged, a number of countries would no longer be eligible to benefit.

Source: European Commission

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