The new regulation of the EU tariff preferences for developing countries for the period 2014-2023: towards a system of preferences «non-generalized»
Keywords:
Tariff preferences, GSP, developing countries, special incentive arrangement for sustainable development and good governance (GSP )Abstract
Four decades after the establishment of the Generalized System of Preferences (GSP) the European Union adopted Regulation 978/2012 in October 2012 as the new framework of the GSP for the period 2014-2023. This regulation will incorporate significant changes in the system.Through the GSP the EU grants a reduction or an elimination of customs duties on products originating in developing countries, taking into account the specific circumstances of these countries and, where appropriate, the commitments made by them in promoting sustainable development in order to encourage economic growth through trade.
This article analyzes the main changes generated by the new regulation of the GSP for the next decade, changes which have transformed it into a «non-generalized» system of tariff preferences seeing that from 2014 the GSP will become a selective instrument that can only benefit certain developing countries.
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