Fabian Demicoli

10 countries given preferential rules for trading with the EU

Armenia,
Bolivia, Cabo Verde, Costa Rica, Ecuador, Georgia, Mongolia, Paraguay, Peru and
the latest addition Pakistan, have been granted what is called GSP Plus status
for trading with the EU. The benefits of the GSP Plus in these countries will
start to apply from January 1, 2014.

The
EU's "Generalised Scheme of Preferences" (GSP) allows developing
country exporters to pay lower duties on their exports to the EU. This gives
them vital access to EU markets and contributes to their economic growth.
Practically, this means full removal of tariffs on two thirds of all product
categories when exporting to the EU. These are granted to countries which
ratify and implement international conventions relating to human and labour
rights, environment and good governance.

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