Four year extension to GSP proposed

10 July 2023

2 billion people rely on the EU's Generalised Scheme of Preferences. It is the EU's prime trade and sustainable development tool.

Here's what you need to know:

The EU’s GSP removes import duties from products coming into the EU market from vulnerable developing countries.  It covers 65 countries, which are among the poorest in the world.

By removing these import duties, the EU’s GSP helps developing countries to alleviate poverty and create jobs based on international values and principles, including labour and human rights, environment and climate protection, and good governance.

In 2022, total imports into the EU under GSP amounted to 80 billion euro.

The European Union’s GSP is widely recognised as the most progressive in terms of coverage and benefits. And we're making sure that GSP keeps delivering.

Want to learn more? Check out this dedicated web page.

Kindly supplied by the European Commission

Follow Chamber International on Twitter @ChamberInt  and on Facebook for the latest in international trade.