GSP+ AND SRI LANKA; BENEFITS AND CALLENGERS

DRI.-29/04/2017

The Generalised Scheme of Preferences (GSP) of the European Union (EU) is a trade arrangement that allows developing countries to pay less or no duties on their exports to the EU. The EU offers GSP programmes to help vulnerable countries to reduce poverty, improve governance and foster a process of sustainable development.

The Generalised Scheme of Preferences Plus (GSP+) is a special component of the GSP scheme that provides additional trade incentives to developing countries already benefitting from GSP. The EU introduced GSP+ with the aim of providing more extensive market access than the standard GSP scheme, giving beneficiary countries duty free access to EU markets for over 7200 products.

In return for these incentives, the recipient countries must ratify and effectively implement core international conventions in the fields of human rights, labour rights, the environment and good governance. Revised in 2014, GSP+ now incorporates strict monitoring mechanisms and a role for civil society in that process. The addition of non-state actors as observers in the scheme renders the monitoring mechanisms more transparent and objective.

CONDITIONS OF GSP+

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