EU to cut emerging nations’ trade benefits

The European Union announced on the 10 May 2011 proposals to rescind trade benefits for dozens of developing countries, including Russia and Brazil, because officials believe they have grown too wealthy and no longer deserve preferential access to the world’s largest market.

Their exclusion would be the biggest consequence of a proposed overhaul of a longstanding EU trade programme known as the generalised system of preferences, or GSP, which aims to help poor countries by reducing the tariffs the bloc imposes on their exports.

European Commission: DG Trade: Wider agenda: Development: Generalised System of Preferences (GSP) http://ec.europa.eu/trade/wider-agenda/development/generalised-system-of-preferences/

Wikipedia: Generalized System of Preferences http://en.wikipedia.org/wiki/Generalized_System_of_Preferences

EUObserver, 11.5.11: Brussels wants to halve recipients of EU trade benefits http://euobserver.com/9/32306

European Commission: RAPID: Press Release: IP/11/553: Focusing on needs: the EU reshapes its import scheme for developing countries http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/553&format=PDF&aged=0&language=EN&guiLanguage=en

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