Improved economic situation, but continued reforms needed

The European Communities (EC) has a generally liberal regime for non-agricultural products and has granted market access to developing countries under its Generalised System of Preferences (GSP) scheme or the Cotonu Agreement, and to LDCs under the 'everything but arms' (EBA) initiative, according to a report on the trade policies and practices of the EC released by the WTO Secretariat issued in February 2007.