The EU Commission has presented a proposal to extend tariff preferences for developing countries under the EU's Generalised System of Preferences (GSP). The extension is to apply for the period from 2024 to 2027.
The current rules are expected to expire at the end of 2023. With the extension, 65 affected countries could continue to benefit from trade preferences ranging up to duty-free for least developed countries. Following a Commission proposal in September 2021, the co-legislators Council and European Parliament had so far been unable to agree on an update of the GSP rules.
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Trade with developing countries: Commission proposes to extend tariff preferences
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