General System of Preference (GSP) Changes

25 February 2013

The new GSP arrangements include a clause to exclude countries from benefiting from preferential trade arrangements where they are classified by the World Bank as high or upper-middle income countries for three consecutive years.

Iran and Azerbaijan have been classified as such for 2010, 2011 and 2012 and are therefore removed from benefitting.

Companies making material savings under GSP should keep up to date with the World Bank’s categorisation of countries.  The three year requirement should provide businesses with a sufficient degree of certainty in sourcing arrangements.

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