December 21st, 2010 by Sandeep Agarwal | Filed under Denim Reports.
EU has recently notified the changes in the rules of origin from certain LDC countries which will simplify the procedure of granting the GSP benefits to the exporting countries and will also benefit other countries involved in supplying raw materials to the country exporting the final product.
There are basically three formats under which EU provides GSP benefits to exporting countries :
- The standard GSP, which provides preferences to 176 Developing Countries and Territories on over 6200 tariff lines; :
- GSP + : The special incentive arrangement for sustainable development and good governance, known as GSP+, which offers additional tariff reductions to support vulnerable developing countries (currently 16) in their ratification and implementation of 27 international conventions in these areas;
- Everything But Arms (EBA) arrangement, which provides Duty-Free, Quota-Free access for all products for the 49 Least Developed Countries (LDCs). Under this arrangement , started in 2001, EU granted duty free access for all products except arms without any quantitative restrictions . These countries are :
Afghanistan Angola Bangladesh Benin Bhutan Burkina Faso Burundi Cambodia Cape Verde Central African Republic Chad Comoros Islands (Islands) Congo, Democratic Republic of Djibouti East Timor Equatorial Guinea Eritrea Ethiopia Gambia Guinea Guinea-Bissau Haiti Kiribati Laos Lesotho Liberia Madagascar Malawi Maldives Mali Mauritania Mozambique Nepal Niger Rwanda Samoa São Tomé & Principe Senegal Sierra Leone Solomon Islands Somalia Sudan Tanzania Tuvalu Togo Uganda Vanuatu Yemen Zambia.