Proposal for a Regulation on applying a generalised scheme of tariff preferences and repealing Regulation (EU) No 978/2012

Author (Corporate)
Series Details COM (2021) 579
Publication Date 22/09/2021
Content Type , ,

Summary:

Legislative initiative published by the European Commission on 22 September 2021, setting out a new Generalised Scheme of Preferences (GSP).

Further information:

The European Union (EU) has granted trade preferences to developing countries through the Generalised Scheme of Preferences (GSP) since 1971. This is part of its Common Commercial Policy. The GSP consists of three arrangements: the Standard GSP, the GSP+ and the Everything But Arms (EBA). Regulation (EU) No 978/2012 - also known as the GSP Regulation - sets out the existing scheme, which applies until 31 December 2023. Unless a new Regulation was adopted, the Standard GSP and the GSP+ arrangements would then cease to apply.

The European Commission therefore tabled a draft law for a new Regulation on 22 September 2021, aiming to renew the scheme for a further period of ten years. The review carried out was about fine-tuning the way the GSP works and improving its efficiency and effectiveness. The EU’s overarching objectives with the revised GSP Regulation are to maintain the essential features of the existing Regulation, while also not jeopardising EU interests.

The draft law was tabled by the European Commission on 22 September 2021.

Source Link https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:579:FIN
Related Links
Commentary and Analysis
Mayer Brown: Perspectives & Events, 27/09/2021: European Commission Proposes Update of Generalized System of Preferences (GSP) https://www.mayerbrown.com/en/perspectives-events/publications/2021/09/european-commission-proposes-update-of-generalized-system-of-preferences-gsp
White & Case: Alerts, 14/10/2021: EU raising the bar for next EU GSP? https://www.whitecase.com/publications/alert/eu-raising-bar-next-eu-gsp
EPRS: Briefing, January 2022: New EU scheme of generalised preferences https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)698857

News
Reuters, 22/09/2021: EU to tie green goals to trade access for developing nations https://www.reuters.com/world/europe/eu-tie-green-goals-trade-access-developing-nations-2021-09-22/

Official
EUR-LEX: SWD(2021)266: Staff Working Document accompanying the Proposal - Impact Assessment Report https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=SWD:2021:266:FIN
EUR-LEX: SWD(2021)267: Staff Working Document accompanying the Proposal - Executive Summary of the Impact Assessment Report https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=SWD:2021:267:FIN
European Parliament: Legislative Observatory: Procedure File for Proposal on Generalized scheme of tariff preferences (GSP) (2021/0297(COD)) https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?lang=en&reference=2021/0297(COD)
European Parliament: Legislative Train Schedule: Review of the Generalised Scheme of Preferences (GSP) Regulation https://www.europarl.europa.eu/legislative-train/theme-an-economy-that-works-for-people/file-new-gsp-regulation
European Union: GSP Hub https://gsphub.eu/
European Commission: DG Trade: Generalised Scheme of Preferences (GSP) https://ec.europa.eu/trade/policy/countries-and-regions/development/generalised-scheme-of-preferences/index_en.htm
European Commission: Press Release, 22/09/2021: Trade and sustainability: Commission proposes new EU Generalised Scheme of Preferences to promote sustainable development in low-income countries https://ec.europa.eu/commission/presscorner/detail/en/ip_21_4801
European Commission: Questions and Answers - Review of EU Generalised Scheme of Preferences (22 September 2021) https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_4802

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