GSP

What is Standard GSP?
Generalized Scheme of Preference(GSP): Standard GSP reduces EU import duties for about 66% of all product tariff lines

The GSP allows vulnerable developing countries to pay fewer or no duties on exports to the EU, giving them vital access to the EU market and contributing to their growth.

The GSP has three objectives:
1. contribute to poverty eradication by expanding exports from countries most in need
2. promote sustainable development and good governance
3. ensure that the EU’s financial and economic interests are safeguarded

Conditions of GSP
Any developing country will benefit from Standard GSP unless:

• it has another type of special trade access to the EU granting the same tariff preferences as the scheme, or better, for substantially all trade
• it has achieved a high- or upper-middle income economy status during three consecutive years according to the World Bank classification

Countries do not need to apply to benefit from Standard GSP; the EU adds them to or removes them from the relevant list through a delegated regulation.

The EU can withdraw Standard GSP in exceptional circumstances, notably serious and systematic violation of fundamental human rights and labour rights conventions.

Expire
The Standard GSP as established by the current Regulation (978/2012) is valid until 2023.

এশিয়ায় GSP সুবিধা পায়, India, Indonesia, Tajikistan, Uzbekistan, Vietnam, Bangladesh.