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Topic: Generalized System of Preferences

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  Generalized System of Preferences - Wikipedia, the free encyclopedia
The Generalized System of Preferences, or GSP, is a formal system of exemption from the more general rules of the World Trade Organization, WTO, (formerly, the General Agreement on Tariffs and Trade or GATT).
Specifically, it's a system of exemption from the Most Favored Nation principle, MFN, that obligates WTO member countries to treat the imports of all other WTO member countries no worse than they treat the imports of their "most favored" trading partner.
Thus, an exemption was established allowing contracting parties to the GATT (the equivalent of today's WTO members) to establish systems of trade preferences for other countries, with the caveat that these systems had to be "generalized" with respect to the countries they benefited (so-called "beneficiary" countries) and the products they covered.
en.wikipedia.org /wiki/Generalized_System_of_Preferences   (783 words)

 European Parliament Fact Sheets - 6.4.2. The Community's generalized system of preferences (GSP)   (Site not responding. Last check: 2007-09-07)
The Community was the first to apply, with effect from 1 July 1971, the GSP to developing countries belonging to the 'Group of 77' within Unctad and to the overseas countries and territories of the Member States.
This was replaced by a new system which, for each individual product, identified the highly competitive supplier countries; restrictions could now be imposed on these countries through the rigorous application of tariff quotas fixed by country, while access for the other supplier countries was regulated by a system of flexible/target ceilings for each country.
According to a safeguard clause, the benefit of GSP preferences may be suspended for certain products originating from certain countries in the event that those imports "cause or threaten to cause serious difficulties to a Community producer".
www.europarl.eu.int /facts/6_4_2_en.htm   (1602 words)

 Encyclopedia: Generalized System of Preferences
General Agreement on Tariffs and Trade (usually abbreviated GATT) functions as the foundation of the WTO trading system, and remains in force, although the 1995 Agreement contains an updated version of it to replace the original 1947 one.
Thus, an exemption was established allowing contracting parties to the GATT (the equivalent of WTO members) to establish systems of trade preferences for other countries, with the one caveat that these systems had to be "generalized" with respect to the countries they benefited (so-called "beneficiary" countries) and with respect to the products they covered.
Within 10 years of the GSP exemption being enacted, nearly every rich country in the world, including OECD member countries and many wealthy Arab states, had established GSP programs, and all of those programs continue in operation today.
www.nationmaster.com /encyclopedia/Generalized-System-of-Preferences   (825 words)

 Paper: Preferences for Workers? Worker Rights and the US Generalized System of Preference
GSP should be "nondiscriminatory," meaning that every eligible developing country would enjoy the same benefits as every other eligible developing country.
Overall, the countries that have lost GSP benefits as a result of inadequate protection of worker rights are significantly smaller and poorer than the average beneficiary country, again undermining the assertion that the primary motivation of those making the decisions is protection of US workers.
For purposes of examining the utility of GSP conditionality, however, another eight cases are excluded because the improvement in worker rights that occurred cannot reasonably be attributed to threats to withdraw GSP.
www.iie.com /publications/papers/elliott0598.htm   (5577 words)

 Generalized System of Preferences
Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries (also known as preference giving countries or donor countries) to developing countries (also known as preference receiving countries or beneficiary countries).
This tariff preference helps new exporters to penetrate a market and established exporters to increase their market share and to improve upon the profit margins, in the donor country.
The rules of origin are aimed at reserving, as far as possible, the benefit of the preferential system to the country for which it is intended, and to prevent third countries' goods from unduly exploiting the system.
www.eicindia.org /eic/certificates/genralized-bg.htm   (457 words)

An accrual method taxpayer is generally required to recognize income when all the events have occurred that fix the right to the receipt of the income and the amount of the income can be determined with reasonable accuracy.
The installment method of accounting provides an exception to this general principle of income recognition by allowing a taxpayer to defer the recognition of income from the disposition of certain property until payment is received.
The proposal generally would prohibit the use of the installment method of accounting for dispositions of property that would otherwise be reported for Federal income tax purposes using an accrual method of accounting.
www.house.gov /jct/x-37-99.htm   (780 words)

 Odinarkiv - Generalized System of Preferences (GSP) - Preferential tariff treatment of imports from developing countries
The GSP system is a unilateral measure on the part of industrial countries in favour of developing countries.
Tariff preferences are not bound in the WTO.
A revised regime for agricultural products within the GSP system was also implemented in 1995.
odin.dep.no /odinarkiv/norsk/dep/fin/2002/eng/006041-990068/index-dok000-b-f-a.html   (271 words)

 Generalized System of Preferences   (Site not responding. Last check: 2007-09-07)
The United States of America does not require GSP Form A. declaration setting forth all pertinent detailed information concerning the production or manufacture of the merchandise is considered sufficient only if requested by distric collector of Customs.
For details the conditions covering admission to the GSP in these countries are obtainable from the designated authorities in the exporting preference-receiving countries or from the customs authorities of the preference-giving countries listed above.
Preference products must either be wholly obtained in accordance with the rules of the country of destination or sufficiently worked or processed to fulfill the requirements of that country's origin rules.
www.balitouring.com /industry/Gsp.html   (485 words)

The U.S. Generalized System of Preferences (GSP) is a program providing free rates of duty for products from beneficiary developing countries to encourage their economic growth, beginning in 1976.
Under the GSP statute, criteria for determining a country's eligibility include the extent to which the country provides its workers with internationally recognized worker rights, whether or not market access is given for U.S. goods and services, and whether or not U.S. patent, copyrights and trademarks are provided protection.
The GSP program should be extended on a multi-year basis, with Thailand’s eligibility considered along with beneficiary countries of the same stage of economic development, especially during the next five years which Thailand still recover from the economic crisis.
oca.thaiembdc.org /gsp.htm   (729 words)

 CRS Report 97-389: - Generalized System of Preferences - NLE Abstract   (Site not responding. Last check: 2007-09-07)
Because the reduction of tariff revenues under GSP increases the budget deficit, congressional budget rules require that an extension of the program must be offset by increased revenues or reduced spending elsewhere.
The Generalized System of Preferences (GSP) provides preferential tariff treatment to certain products that are imported from designated developing countries.
The primary purpose of the program, which the United States and other industrial countries initiated in the 1970s, is to promote economic growth in developing countries and countries in transition by stimulating their exports.
www.ncseonline.org /NLE/CRS/abstract.cfm?NLEid=16513&CFID=248343&CFTOKEN=73524258   (621 words)

 [No title]
Agrees that the objectives of the generalized nonreciprocal, non-discriminatory system of preferences in favour of the developing countries, including special measures in favour of the least advanced among the developing countries, should be: (a) To increase their export earnings; (b) To promote their industrialization; (c) To accelerate their rates of economic growth; 2.
All proposed individual schemes of preferences provide for certain safeguard mechanisms (for example, a priori limitation or escape-clause type measures) so as to retain some degree of control by preference-giving countries over the trade which might be generated by the new tariff advantages.
During the annual review of the operation of the generalized system of preferences, special attention should be given by the institutional machinery to the effects of the system on the volume of exports and export earnings of the least developed countries and in regard to other objectives of Conference resolution 21 (II).
www.wto.org /english/tratop_e/dispu_e/246r_e_e.doc   (2743 words)

 [No title]
We shall first look at the position of the generalized system of preferences (GSP) in what is commonly known as the pyramid of trade preferences (I) and then go on to consider a recent major development in the European Union’s generalized system of preferences, namely, the inclusion of a social dimension (II).
The generalized tariff preferences system set up in 1971 did not contain any provision that could be construed as a kind of social clause.
A social dimension was introduced in the GSP on 1 January 1995 and it was considerably strengthened by the adoption of an implementing regulation which entered into force on 5 June 1998. 12.
www.bayefsky.com /general/e_c12_2001_9.doc   (5852 words)

 NEWS RELEASE 03-051; June 5, 2003
The Commission also provided advice as to whether any industry in the United States is likely to be adversely affected by the addition of certain knives, forks, and spoons of base metals, imported under HTS subheadings 8211.91.20, 8215.99.01, 8215.99.10, and 8215.99.30, for countries designated as least-developed beneficiaries.
ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade and are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means.
General factfinding investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.
www.usitc.gov /er/nl2003/ER0605AA2.HTM   (550 words)

 EUROPEAN PARLIAMENT FACT SHEETS - 6.4.2. The Community's generalized system of preferences (GSP)   (Site not responding. Last check: 2007-09-07)
To qualify under the social policy incentive clause, countries must be able to provide proof of compliance with ILO Convention No 87 on the freedom of association, No 98 on the right to organise and to bargain collectively and No 138 on child labour.
On 11 April 1997 the European Parliament considered that the EU should make more decisive use of its GSP as a means of promoting the regional economic integration of developing countries.
It pointed out that new measures are required against fraud, including the effective use of penalties, the temporary withdrawal of preferences and the need to improve fraud detection systems as close to the source as possible.
www.europarl.eu.int /factsheets/6_4_2_en.htm   (1660 words)

 International Economics Glossary: G   (Site not responding. Last check: 2007-09-07)
A monetary system that sought to restore features of the Gold Standard in the 1920s and again in the Bretton Woods System, while economizing on gold.
A monetary system in which both the value of a unit of the currency and the quantity of it in circulation are specified in terms of gold.
Termination of a country's eligibility for GSP tariff preferences on the grounds that it has progressed sufficiently, in terms of per capita income or another measure, that it is no longer in need to special and differential treatment.
personal.www.umich.edu /~alandear/glossary/g.html   (1850 words)

 Weekly Compilation of Presidential Documents: Proclamation 7912--to modify duty-free treatmen... @ HighBeam Research   (Site not responding. Last check: 2007-09-07)
Pursuant to section 502(a)(1) of the Trade Act of 1974, as amended (the "1974 Act") (19 U.S.C. 2462(a)(1)), the President is authorized to designate countries as beneficiary developing countries for purposes of the Generalized System of Preferences (GSP).
Section 604 of the 1974 Act, as amended (19 U.S.C. 2483), authorizes the President to embody in the HTS the substance of the relevant provisions of that Act, and of other acts affecting import treatment, and actions thereunder, including the removal, modification, continuance, or imposition of any rate of duty or other import restriction.
(c) In order to provide preferential tariff treatment under the GSP to a beneficiary developing country that has been excluded from the benefits of the GSP for certain eligible articles, the Rates of Duty 1-Special subcolumn for such HTS subheadings is modified as provided for in section C(4) of Annex I to this proclamation.
www.highbeam.com /library/doc0.asp?DOCID=1G1:135077027&refid=ip_encyclopedia_hf   (1471 words)

 "Generalized System of Preferences Expires: What Next?," Trade, October 25, 2001; Volume 1, Issue 1 from Holland & ...
The Generalized System of Preferences GSP expired at midnight on September As of October Customs will not process most claims asdutyfree under the
The Generalized System of Preferences (GSP) expired at midnight on September 30, 2001.
Refunds will only be issued, if the GSP is renewed with retroactive effect, for those eligible products entered or withdrawn from warehouse for consumption during the period that GSP lapsed and that were eligible for duty-free treatment under the program’s provisions prior to its expiration.
www.hklaw.com /Publications/Newsletters.asp?ID=222&Article=1242   (278 words)

 Delegación de la Comisión Europea para Colombia y Ecuador
The first period of the general GSP entered into force on 1971, offering the preferences "as a temporary and exceptional title" and concluded in December 31, 1980.
The Council Regulation (EC) No 2501/2001 of 10 December 2001, relative to a generalized tariff preferences application system for the period understood between January 1, 2002 and December 31, 2004, constitutes the most recent system extension.
The European Union has classified within the general GSP the susceptible products to be imported to its territory according to a "sensibility" degree which depends on its offering inside of the Unique Market.
www.delcol.cec.eu.int /en/eu_and_la/economic_relations_spg.htm   (518 words)

 El Salvador - Generalized System of Preference   (Site not responding. Last check: 2007-09-07)
The Generalized System of Preference(SGP), is the result of the efforts made worldwide, with the launching in 1961 of the First Decade of the United Nations for Development, in order to foster better cooperation of the industrialized countries and the countries in the process of development.
It is partially manufactured in the country with imported inputs with the condition that the percentage of added value be equal or greater than 35% and it is expressed with the letter "Y", followed by the percentage.
The temporary withdrawal is not automatic and it occurs after the procedure provided for by a consulting commission and a generalized preferences committee, made up by representatives from the member states.
www.elsalvadortrade.com.sv /tratados/i_html/sgp.html   (1462 words)

 REFERENCES   (Site not responding. Last check: 2007-09-07)
Generalized system of preferences: guidelines for the 1990s.
Pyo, H. Effects of the generalized system of preferences on the Republic of Korea.
The generalized system of preferences: a review of changes in the schemes since their inception.
www.fao.org /DOCREP/006/Y4963E/y4963e09.htm   (953 words)

 Commercial Defense Actions and Other International Trade Developments in the European Communities: 1 July 1988 - 30 ...
Taking into account the weighted average of the customs duties on imports (between 5.5% and 6%) and an average rate of GSP utilization of 70%, the Commission has estimated that the loss of customs receipts due to the application of the scheme could be in the order of 1 thousand million ECU.
The EC is continuing its policy of `graduation' of preferences as first defined in 1986 on the occasion of the mid-term review of the system for the decade 1981-1990 and consisting of reducing or withdrawing preferential treatment for certain very competitive suppliers of sensitive industrial products.
The Commission's position was backed by the European Court of Justice which, in a case concerning the application of the GSP for 1987, took the position that it is illegal to allocate Community quotas among the Member States unless compelling circumstances of an administrative, technical or economic character make it impossible to do otherwise.
www.ejil.org /journal/Vol1/No1/sr1-03.html   (1848 words)

 United States Grants Thousands of Iraqi Products Duty-Free Status - US Department of State
As a GSP beneficiary country, Iraq will be able to take advantage of duty-free tariff treatment into the United States on approximately 3,500 products.
GSP is a program that grants duty-free treatment to specified products that are imported from more than 140 designated developing countries and territories.
GSP was reauthorized when President Bush signed the Trade Act of 2002 on August 6, 2002.
usinfo.state.gov /mena/Archive/2004/Sep/08-706362.html   (345 words)

The classical instrument for achieving these objectives is tariff preferences, that is to say that the goods we import from developing countries are not submitted to the normal customs duties.
The GSP User's Guide (yet to be updated with the recent changes) explains the main features of the GSP.
A reform of the GSP rules of origin is in hand (see New developments in the DG Taxation and Customs Union website).
europa.eu.int /comm/trade/issues/global/gsp/index_en.htm   (735 words)

 REG/PREF.HTM   (Site not responding. Last check: 2007-09-07)
However, the developed countries extending GSP preferences have consistently refused this request on the ground that the GSP was a voluntary scheme introduced on the understanding that it would not prevent the further reduction or elimination of MFN tariffs in future multilateral trade negotiations.
Under the GSP, developed countries have for some time, on a voluntary and unilateral basis, applied preferential tariff rates to imports from developing countries, while normal MFN rates are applied to imports from other countries.
The GSP, on the other hand, is an open-ended scheme of tariff preferences in favour of developing countries--although some GSP donors apply such preferential treatment only within certain quantity or value limits.
www.intracen.org /worldtradenet/docs/information/referencemat/faqs/regpref.htm   (718 words)

 Press Room / Press releases / European Union Council extends Andean Generalized System of Preferences   (Site not responding. Last check: 2007-09-07)
They consider the possible renewal of the Andean preferential system for the decade of 2005-2014, which will depend upon a general evaluation of the results to be conducted over the three-year period of 2002-2004.
In any case, and even though the percentage of coverage and the average margin of preference of the Andean GSP have been declining over time because of the tariff reduction commitments assumed by the EU at the conclusion of the Uruguay Round, the socioeconomic merits of the instrument have been clearly demonstrated.
Last but not least, the Andean GSP made it possible to diversify Andean exports to the European Union, as shown by the increase in number of NANDINA headings effectively used, which rose from 1,554 in 1991 to 1,923 in 2000.
www.comunidadandina.org /ingles/press/np14-1-02.htm   (490 words)

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