| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | 2023/2663 |
| Publication Date | 27/11/2023 |
| Content Type | Legislation, Policy-making |
Summary:Regulation (EU) 2023/2663 - adopted by the co-legislators on 22 November 2023 - introducing amendments to Regulation (EU) No 978/2012 applying a scheme of Generalised Tariff Preferences (GSP). Further information:The European Union (EU) has granted trade preferences to developing countries through the Generalised Scheme of Preferences (GSP) since 1971. This is part of its Common Commercial Policy. The GSP consists of three arrangements: the Standard GSP, the GSP+ and the Everything But Arms (EBA). Regulation (EU) No 978/2012 - also known as the GSP Regulation - sets out the existing scheme, which applies until 31 December 2023. Unless a new Regulation was adopted, the Standard GSP and the GSP+ arrangements would then cease to apply. In September 2021, the European Commission adopted a draft Regulation seeking to replace and repeal the existing framework. Given the uncertainty over the conclusion of that legislative procedure in time, and the need to ensure continuity in the operation of the scheme beyond December 2023, this Regulation amends only the date of application of Regulation (EU) No 978/2012. The draft law was adopted by the European Commission on 4 July 2023. The plenary of the European Parliament adopted the proposed Regulation on 5 October, followed by the Council of the European Union on 23 October. The Act was formally signed by the co-legislators on 22 November 2023 and published in the Official Journal on 27 November 2023. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/reg/2023/2663/oj |
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| Subject Categories | Trade |
| Subject Tags | External Trade | Trade Agreements |
| Keywords | Generalised System of Preferences [GSP] |
| International Organisations | European Union [EU] |
