Council of the European Union and European Parliament 25 October 2012, Regulation (EU) No 978/2012 of the European Parliament and of the Council of 25 October 2012 applying a scheme of generalised tariff preferences and repealing Council Regulation (EC) No 732/2008

Also known as

Regulation (EU) No 978/2012 establishes a scheme of generalised tariff preferences (GSP) aimed at providing preferential market access to developing countries to promote sustainable development and poverty eradication. Key provisions include a general arrangement for all eligible developing countries, a special incentive arrangement for sustainable development and good governance (GSP+), and a special arrangement for least-developed countries (Everything But Arms). The regulation emphasizes compliance with international conventions, monitoring of beneficiary countries, and the potential withdrawal of preferences in cases of serious violations of human rights and labor rights.AI