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Global System of Trade Preferences among Developing Countries

AlgeriaAlgeria
ArgentinaArgentina
BeninBenin
BoliviaBolivia
BrazilBrazil
CameroonCameroon
ChileChile
ColombiaColombia
CubaCuba
EcuadorEcuador
EgyptEgypt
GhanaGhana
GuineaGuinea
GuyanaGuyana
IranIran
IraqIraq
LibyaLibya
MexicoMexico
MoroccoMorocco
MozambiqueMozambique
NicaraguaNicaragua
NigeriaNigeria
PeruPeru
SudanSudan
Tanzania, United Republic OfTanzania, United Republic Of
Trinidad And TobagoTrinidad And Tobago
TunisiaTunisia
VenezuelaVenezuela
ZimbabweZimbabwe

Area of Cooperation

Global Dispute Settlement

Sign Date

January 1, 1988

In Force Date

January 1, 1989

Summary

The Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa.
http://www.unctadxi.org/templates/Page____6207.aspx

Scope

                                                               i.      Global (developing countries)

 
Rules of Origin

                                                               i.      Minimum value of content not less than 50% FOB value of the products produced or obtained, for LDC not less than 40%

                                                             ii.      Accumulation where aggregate contents originating in the members is not less than 60% FOB value of the products produced or obtained

 
Contingency

                                                               i.      Safeguards: Article 13 stipulates rules for use of safeguards. Article 14 refers to balance of payments measures.

 
News/Studies

                                                               i.      “Examining aspects of free trade pacts”        http://www.business-standard.com/economy/storypage.php?leftnm=3&subLeft=3&chklogin=N&autono=299843&tab=r

                                                             ii.      “Developing Countries and Unilateral Trade Preferences in the New International Trading System”     http://www.wto.org/english/tratop_e/devel_e/sem01_e/ongugl_e.doc.

 
Additional Links

                                                               i.      http://www.eicindia.org/eic/certificates/global.htm