The EU publishes revised Generalised Scheme of Preferences (GSP) for developing countries
ASTANA. November 1. KAZINFORM The EU issued on Wed its revised import preference scheme - known as the Generalised Scheme of Preferences (GSP) - for developing countries most in need which will take effect from 1 January 2014.
The new scheme is expected to start with 89 beneficiaries: 49 least developed countries, and 40 other low and lower-middle income partners.
Kazakhstan being classified as an Upper Middle Income country by the World Bank is in the main country categories which will no longer benefit from the GSP scheme. In 2011, Kazakhstan's export to EU accounted for 20,996 million EUR, making the EU the biggest trade partner, representing 47 % of total Kazakhstan's export, the EU Delegation to Kazakhstan said.
The current GSP scheme will remain valid until 1 January 2014, thus giving economic operators time to adapt to the revised regime.
Full text of the press-release is available in English