The European Commission and the High Representative for the Common Foreign and Security Policy published a new joint report on the implementation of the Generalised Scheme of Preferences (GSP) – the EU's main trade policy tool to support developing countries' exports to the bloc. The report confirms that the system continues contributing to economic progress and sustainable development in beneficiary countries. The GSP, which unilaterally offers access to EU markets with low or no duties, remains a source of stability and predictability in times of geopolitical volatility.
The report covers the implementation and impact of the GSP over 2023-2025 through its three arrangements (Standard GSP, GSP+ and Everything But Arms (EBA)). In 2024, the EU imported almost €60 billion worth of goods under GSP preferences, benefitting partner countries as well as EU importers and consumers. GSP beneficiary countries received preferential tariff treatment resulting in an estimated €5 billion savings. The largest category of beneficiaries remained the least-developed countries, benefiting from more than €3 billion of the total under the Everything But Arms (EBA) instrument. Overall, Bangladesh, India, and Pakistan were the largest beneficiaries of the scheme and clothing was the top sector, accounting for 59 % of all trade using GSP preferences.
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