EU Revises Import Scheme To Boost Developing Countries

Law360, New York (October 31, 2012, 5:25 PM EDT) -- The European Commission on Wednesday published a revised import scheme that is expected to significantly reduce the number of countries and territories eligible for reduced tariffs under the Generalized System of Preferences and provide greater economic aid to developing nations.

The new proposals will take effect Jan. 1, 2014, and cut the number of eligible countries and territories from 176 to 89, the EU said. GSP benefits will be phased out for countries and territories that have entered into alternative trade arrangements, are controlled by developed nations...
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