Get Gsp Certificate Template

The GSP (Generalised System of Preferences) is a trade policy instrument of the EU, which grants developing countries so-called tariff preferences, i.e. tariff reductions up to complete exemption from customs duties.

This certificate is a type of Certificate of Origin that allows imports from the countries included in the GSP (General System of Preferences) – developing countries – to qualify for the elimination or reduction of tariffs as this system gives preferential treatment.

The Generalized System of Preference (GSP) is a unilateral scheme wherein custom duty preferences or concessions are granted by developed countries to export of specified products from developing countries.

The Generalized System of Preferences (GSP), instituted in 1971 under the aegis of UNCTAD, has contributed over the years to creating an enabling trading environment for developing countries.

1 The Generalised System of Preferences (GSP) is a non-contractual instrument by which industrially developed countries extend tariff concession to goods originating in developing countries.

India is a beneficiary of the EU's Standard GSP. With a per-capita income of $2,256 in 2021, India is classified a lower middle-income country by the World Bank. Total EU imports from India amounted to €46 billion in 2021, a 20% decrease compared to the previous year.

The U.S. Generalized System of Preferences (GSP) program provides nonreciprocal, duty-free tariff treatment to certain products imported to the United States from designated beneficiary developing countries (BDCs). Congress first authorized the U.S. program in Title V of the Trade Act of 1974.

The principle of GSP was agreed at the United Nations Conference on Trade and Development (UNCTAD), and is a facility granted to developing countries ("beneficiary countries") by certain developed countries ("donor countries"). It is not negotiated with them: the preferential treatment is non-reciprocal.