Generalised System of Preference (GSP)
Generalised System of Preference (GSP)
What does this term stand for?
The Generalised System of Preference is a trade program that allows goods from developing countries to be imported into developed countries at reduced or zero customs duty rates. This system supports global trade by helping exporters from developing nations access international markets more easily. In logistics, GSP plays an important role in reducing landed costs, improving price competitiveness, and increasing export opportunities for eligible products.
Key Characteristics:
- Duty Reduction
- Trade Support
- Export Boost
- Developing Countries
- Customs Benefit
- Cost Saving
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