GSP


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Generalized Special Preference (GSP)

Generalized Special Preference (GSP) is a preferential Tariff system.

This system is extended by developed countries to developing countries (beneficiary countries). It is a preferential arrangement in the sense that it allows concessional Low/Zero tariff imports from developing countries. WTO Agreements contain special provisions which give developing countries special rights and which give developed countries the possibility to treat developing countries more favourably than other WTO Members. These special provisions include, for example, Duty Free or Lesser Duty imports, longer time periods for implementing Agreements and commitments or measures to increase trading opportunities for developing countries.
Trade preference programs such as the Generalized System of Preferences (GSP) provide opportunities for many of the world’s developing countries to use trade to grow their economies.
GSP prove to be very usefull to clients from Developing nations like India. It gives a price advantage to GSP beneficiary over its competitors. A duty free or lesser duty import can change the whole economy of any developing country.

GSP provided by the countries to developing nations like India may sometime have some exceptions, eligibility criteria, volume restrictions -Competitive Need Limit (CNL), etc.
GSP providing countries make annual reviews about the type of commodities to be selected or excluded under GSP.

YKG Team provides following services, related to GSP:

Filing application for inclusion of excluded commodity based on statistical research of importing and exporting country.
Filing application for Competitive Need Limit (CNL) waivers.
Analysis of GSP status in various countries.

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