Generalized System of Preferences (GSP):
• Bangladesh is getting GSP facilities from 38 countries;
• European Union – 28 countries.
• Others - Australia, Belarus, Canada, Liechtenstein, Japan, New Zealand, Norway, Russian Federation, Switzerland and Turkey – 10 countries.
• EU GSP – Generalized System of Preference to developing countries and LDCs which was adopted in 1968 and became effective in 1971. EU GSP offers either lower tariffs or completely duty-free access for imports from 90 developing countries and territories into the EU market.
• EU GSP scheme also grants duty free access for the 50 least developed countries under “Everything but Arms (EBA)” scheme. EBA grants duty-free quota-free access to all products, except for arms and ammunitions, covering 99% of all tariff lines.EU adopted a reformed GSP law on 31 October 2012, which made applicable from 1 January 2014.
Assistant Professor, TE