New EU GSP regime: New Regulations Relating to Graduated Products, Beneficiary Country List and GSP Plus Procedures

I. Introduction -

Following entry into force of the Regulation introducing the new EU Generalised Scheme of Preferences (GSP) regime – Regulation 978/20121 – the EU has recently adopted and published certain legal acts needed to implement and update the new regime. The new EU GSP regime will not replace the current GSP regime (and repeal the current GSP Regulation, Regulation 732/20082) until 1 January 2014. However, it is already being implemented and updated now as part of the EU’s aim to ensure a more dynamic approach to the new EU GSP regime through regular reviews, while at the same time securing a stable and predictable GSP framework for economic operators.

The recently published implementing legislation for the new EU GSP regime involves the following areas:

• Establishment of the new list outlining suspension of tariff preferences (“graduation”) for product categories from certain beneficiary countries when the average import value exceeds certain thresholds;

• Introduction of procedural requirements for GSP Plus status applications; and

• Results from the first annual review of the GSP beneficiary list (featured in Annex II of Regulation 978/2012).

We explain these new legal acts in detail below. For more information about individual features of the new EU GSP regime, please see our previous alerts from 9 October 2012 and 31 October 2012.

Please see full alert below for more information.

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Topics:  EU, Generalized Scheme of Preferences, GSP Regime, Tariffs, Threshhold Requirements

Published In: International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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