GSP: publication of the new regulation
The new 10-year implementation scheme for the Generalised Preferential System (GSP), which was to enter into force on 1 January 2024, has not yet been finalized and adopted by Parliament and the European Council (cf.Reform of the GSP: renewal of the current systemandReform of the GSP: discussions are still stalled). For this reason Regulation (EU) 2023/2663 of 27 November,extendedthe delay in applying the current GSP schemeuntil 31 December 2027.
However, the Regulation provides that, if the new scheme is adopted before the end of 2027, the extension period could be shortened by providing for an adequate transitional period.
In these circumstances,no change will occur under GSP for 2024. Indeed, if the Union agreed on a new scheme of application next year, its entry into force would take place on 1 January 2025.
The 27 Member States now have a maximum period of four years to grant and finalize the new GSP scheme.
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