EU Publishes Revised GSP for Developing Countries

The European Union (EU) has issued its revised scheme of generalized tariff preferences (GSP) for imports from those developing countries most in need, including Vietnam. This will take effect from January 1, 2014. Following agreement with the European Council (EC) and European Parliament (EP), the publication of the new scheme contains the specific tariff preferences, such as zero or reduced tariffs, and the final criteria for which developing countries will benefit.

 

The new scheme will be focused on 89 beneficiaries, including 49 least developed countries in the Everything But Arms (EBA) scheme, and 40 low and lower-middle income countries.