EU extends the Generalised Scheme of Preference regulation

On 27 November 2023, the Commission extended the current EU’s Generalised Scheme of Preferences (GSP) regulation until the end of 2027. The EU GSP removes import duties from products coming into the EU market from vulnerable developing countries.

By removing such import duties, the EU’s GSP is the EU’s main unilateral trade policy to support vulnerable developing countries’ exports to the EU, based on international values and principles. The Scheme helps developing countries to alleviate poverty and create jobs based on international values and principles, including labour and human rights, environment and climate protection, and good governance.

The principle of GSP was agreed at the United Nations Conference on Trade and Development (UNCTAD), and is a facility granted to developing countries ("beneficiary countries") by certain developed countries ("donor countries").

For more detailed information on general aspects of the GSP and its background, see here