Go back

What are GSP and GSP+?

The Generalized system of preferences (GSP) is the system of preferential trading through which the European Union extends preferential access to its markets for imports from developing countries.

The New “GSP+", grants duty-free access to the EU for approximately 7,200 products from small and vulnerable countries that have ratified the major multilateral environmental agreements (MEAs) as well as key human rights and governance agreements.

On December 21st 2005 the EU announced the extension of its GSP+ scheme to an additional(14+1)15vulnerable developing countries - Bolivia, Columbia, Ecuador, Peru, Venezuela, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Moldova, Georgia, Mongolia and Sri Lanka. Sri Lanka was accommodated under GSP+ as a special case to enable recovery of development of the economy after the Tsunami Disaster.

Go back