The Generalised System of Preferences, known as GSP, is defined as "a formal system of exemption from the more general rules applied by the European Union on its trade relationship with third countries." Specifically, it is a system of exemption from the GATT MFN clause that obligates WTO member countries to treat the imports of all other WTO member countries not worse than they treat the imports of their "most favoured" trading partner. The objective of GSP is to assist developing countries on poverty reduction, by helping them to generate revenue through international trade. In EU law,...
The Generalised System of Preferences, known as GSP, is defined as "a formal system of exemption from the more general rules applied by the Europea...
