Developing nations urged to apply for GSP+ benefits
FE Report | Friday, 25 July 2008
The European Union (EU) has sought applications from developing countries in order to qualify for getting the benefits of GSP+ (Generalised System of Preference) setting October 31 as the deadline, said a statement of the European Commission.
The EC statement received here on Thursday said the EU, that is offering a special incentive arrangement for Sustainable Development and Good Governance under GSP+ facilities, will bring changes in the existing list of beneficiary countries.
"Interested countries have until 31 October this year to apply in order to qualify for GSP+ preference from January 2009."
The GSP+ offers additional preferences to support vulnerable developing countries in their ratification and implementation of relevant international conventions on human and labour rights, environmental protection and good governance, it said.
At present, 14 beneficiary countries receive the additional preferences under the GSP+ incentive arrangement.
These preferences will lapse at the end of this year and both the existing and potential new beneficiaries who would be able to meet the criteria will need to apply if they wish to receive GSP+ treatment from January 2009.
According to the qualification criteria, any GSP+ beneficiary country must be considered vulnerable and that it has ratified and effectively implemented 27 specified international conventions in the fields of human rights, core labour standards, sustainable development and good governance.
The member states of the European Union sought application from the developing countries after adoption Wednesday of a new regulation applying the EC's GSP for the period from 1 January 2009 until the end of 2011.
The new regulation will allow the EU to maintain preferential access to its market for 176 developing countries, the EC statement said adding the renewed preference system will be updated and improved, ensuring that GSP is targeted at those countries that need it most.
GSP provides real economic value to developing countries, with Euro 57 billion worth of trade under the scheme in 2007.
"GSP is a vital tool for development of EU trade policy," EU Trade Commissioner Peter Mandelson was quoted as saying in the statement.
As a result of re-calculations to reflect the evolution of trade, it said preference for specific product groups will be re-established for six beneficiary countries of GSP (Algeria, India, Indonesia, Russia, South Africa and Thailand).
Preferences will be suspended for Vietnam, for Section XII products (footwear and some other products).
These adjustments are triggered automatically when a country's performance on the EU market goes above or below a certain threshold, the statement said.
It added suspension of preferences, called "graduation", reflects the fact that a particular country is competitive in the EU market for the products in question.
The EC statement received here on Thursday said the EU, that is offering a special incentive arrangement for Sustainable Development and Good Governance under GSP+ facilities, will bring changes in the existing list of beneficiary countries.
"Interested countries have until 31 October this year to apply in order to qualify for GSP+ preference from January 2009."
The GSP+ offers additional preferences to support vulnerable developing countries in their ratification and implementation of relevant international conventions on human and labour rights, environmental protection and good governance, it said.
At present, 14 beneficiary countries receive the additional preferences under the GSP+ incentive arrangement.
These preferences will lapse at the end of this year and both the existing and potential new beneficiaries who would be able to meet the criteria will need to apply if they wish to receive GSP+ treatment from January 2009.
According to the qualification criteria, any GSP+ beneficiary country must be considered vulnerable and that it has ratified and effectively implemented 27 specified international conventions in the fields of human rights, core labour standards, sustainable development and good governance.
The member states of the European Union sought application from the developing countries after adoption Wednesday of a new regulation applying the EC's GSP for the period from 1 January 2009 until the end of 2011.
The new regulation will allow the EU to maintain preferential access to its market for 176 developing countries, the EC statement said adding the renewed preference system will be updated and improved, ensuring that GSP is targeted at those countries that need it most.
GSP provides real economic value to developing countries, with Euro 57 billion worth of trade under the scheme in 2007.
"GSP is a vital tool for development of EU trade policy," EU Trade Commissioner Peter Mandelson was quoted as saying in the statement.
As a result of re-calculations to reflect the evolution of trade, it said preference for specific product groups will be re-established for six beneficiary countries of GSP (Algeria, India, Indonesia, Russia, South Africa and Thailand).
Preferences will be suspended for Vietnam, for Section XII products (footwear and some other products).
These adjustments are triggered automatically when a country's performance on the EU market goes above or below a certain threshold, the statement said.
It added suspension of preferences, called "graduation", reflects the fact that a particular country is competitive in the EU market for the products in question.