EU: What future for the GSP in 2024?
As theGSPon 31 December 2023,new scheme for 2024-2034with the aim of improving the existing social, environmental and labour law dimension. As a reminder, this device allowsabolition or reduction of customs dutieson imports to the EU, to develop the economies of low-income countries.
The new proposal aims to:
- ensure a transition to countries graduating from the TSA category (all except arms) by allowing them to apply for membership of the GSP+ regime;
- enrich the list ofinternational conventionsto be ratified and implemented by beneficiary countries with particular attention to child labour and forced labour;
- setting up aemergency procedure, up to 8 months to decide to suspend tariff preferences in the event of serious violations of international standards by a country;
- extending products eligible for tariff reductions to allow countries to diversify their production;
- assess the economic effects before withdrawal to take into account the impacts on the population.
This regulation has yet to be adopted by Parliament and the Council.
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