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Home arrow Home arrow New European-wide tariff scheme to encourage imports from developing countrie
New European-wide tariff scheme to encourage imports from developing countrie
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Friday, 21 December 2001
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EUROPEAN UNION (EU) FOREIGN MINISTERS APPROVED a new European-wide tariff scheme this week, in a bid to encourage imports from developing countries. The tariffs, which were instituted under the Generalized Scheme for Tariff Preferences (GSP) and alongside compliance incentives for "core labor standards," represent the EUs most comprehensive initiative to support import growth from the Least Developed Countries (LDCs). In other EU news, two new reports authored by independent consultants criticize the European Commissions aid programs to Macedonia and Albania, noting a lack of clear strategies, bureaucratic delays and little apparent impact despite having spent over $1 billion. The report also notes that competition between the Commission and the World Bank was "a significant problem."
 
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