GSP-PREFERENCES

Tariff preferences for developing countries.

Definition

GSP schemes differ by bloc: EU GSP (Standard + GSP+ + EBA), US GSP (subsection 502), Japan GSP, Canada GSP, Norway GSP, Switzerland GSP. EU GSP+ adds governance and human rights incentives. EBA Everything But Arms = zero tariff for LDCs.

Origin

Adopted by UNCTAD in 1971 (Resolution 21(II)) ; EU GSP in 1971 ; revisions every 10 years.

Example in context

A Bangladeshi textile exporter benefits from EBA (zero tariff) to EU — no customs duties if Form A REX valid.

Related terms

• REX — self-certification.