Recent developments in Generalized System of Preferences

Begüm Köse

Developments in international trade not only increased the trade volume between the countries but also brought many advantages with it. As one of these facilitation practices, the Generalized System of Preferences was adopted at the United Nations Conference on Trade and Development (UNCTAD). In order to increase the export value of developing and least developed countries and to encourage exports, the Generalized System of Preferences defines a certain margin of concession in the imports of developed countries from these relevant countries.

 

In this article, we evaluate with a general overview this system which is applied globally. At the same time, we have aimed to provide general information about the system we have implemented jointly with the European Union within the scope of Customs Union, as well as with the recent developments of the applications in the United States. On the other hand, it is mentioned that this system, continues every year, has been renewed under which amendments with the New Year.

 

 

 

 

 

 

Explanations in this article reflect the writer's personal view on the matter. EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. disclaim any responsibility in respect of the information and explanations in the article. Please be advised to first receive professional assistance from the related experts before initiating an application regarding a specific matter, since the legislation is changed frequently and is open to different interpretations.