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Cabo Verde gains access to EU’s GSP

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Wednesday, 15 January 2014

Cabo Verde gains access to EU’s GSP

The government of Cabo Verde declared on Wednesday 8 January 2014 that the recent enforcement of the country’s access to the European Union’s Generalised System of Preferences (GSP+) was an “important step” in the relationship with the European block. The Cape Verdean Ministry for Foreign Relations informed in a statement that on 28 December 2013 the European Parliament officially approved the European Commission’s proposal to improve Cabo Verde’s access to the European Union (EU) market and that the measure was put in place on 1 January 2014. The access to the SGP+ may also support the country’s integration in the international economic system.
The GSP is a system designed by the United Nations Conference on Trade and Development (UNCTAD) for goods from developing nations to have privileged access to developed markets. The GSP+ is made up of a set of EU rules that allows exporters from developing nations to pay lower customs taxes on all or some of the products they sell to the EU. It provides tax-free access by several products. In 2012 the EU imported goods worth 4.9 billion euros from beneficiary countries.

Source: macauhub