Memo: Revised EU trade scheme to help developing countries applies on 1 January 2014

The European Union's rules determining which countries pay less or no duty when exporting to the 28 country trade bloc, and for which products, will change on 1 January 2014.

The changes to the EU's so-called 'Generalised System of Preferences' (GSP) have been agreed with the European Parliament and the Council in October 2012 and are designed to focus help on developing countries most in need.

The GSP scheme is seen as a powerful tool for economic development by providing the world's poorest countries with preferential access to the EU's market of 500 million consumers.

The changes in a nutshell:
+ 90 countries, out of the current 177 beneficiaries, will continue to benefit from the EU's preferential tariff scheme.
+ 67 countries will benefit from other arrangements with a privileged access to the EU market, but will not be covered by the GSP anymore.
+ 20 countries will stop benefitting from preferential access to the EU. These countries are now high and upper-middle income countries and their exports will now enter the EU with a normal tariff applicable to all other developed countries.

ESO: Background information: The EU publishes revised preferential import scheme for developing countries http://www.europeansources.info/record/press-release-the-eu-publishes-revised-preferential-import-scheme-for-developing-countries/

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