Reform of the GSP: renewal of the current system
The Committee on International Trade of the European Parliament has just unanimously voted on theRenewed Generalized Preferences System (GSP) status for an additional four years. Parliament will have to endorse this decision in plenary session, which should not be a problem. Then it will be the Council's turn to validate it, before it can be formalized. This should take placebefore the end of the year.
Let us recall that what is happening is the result of the inability of the 27 member countries to agree to validate the new 10-year GSP scheme applicable from 1 January 2024 (cf.Reform of the GSP: discussions are still stalled).
The general scheme, the Less Developed Countries scheme and the GSP+ scheme should therefore remain in operation for several years, whereas the current scheme, which entered into force on 1 January 2014, was to end on 1 January 2024. Pending formal confirmation, the current scheme should a priori beextended until 31 December 2027.
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