Press Release: European Union agrees to maintain trade preferences for developing countries

The European Commission welcomed the adoption by EU Member States of a new Regulation applying the EC's Generalised System of Preferences (GSP) for the period from 1 January 2009 until the end of 2011. This decision will allow the EU to maintain preferential access to its market for 176 developing countries. The renewed preference system will be updated and improved, ensuring that GSP is targeted at those countries that need it most. GSP provides real economic value to developing countries, with €57 billion worth of trade under the scheme in 2007.

European Commission: MEMO/08/524: The Generalised System of Preferences (GSP) 2009-2011 http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/08/524&format=HTML&aged=0&language=EN&guiLanguage=en

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