Definition
A scheme under which developed countries grant reduced or zero tariffs on selected imports from developing countries to support their economic growth. Each granting country sets its own product coverage and eligibility rules. South African exporters have at times benefited from GSP arrangements offered by various trading partners.
Frequently asked questions
What is GSP (Generalised System of Preferences)?
A scheme under which developed countries grant reduced or zero tariffs on selected imports from developing countries to support their economic growth. Each granting country sets its own product coverage and eligibility rules. South African exporters have at times benefited from GSP arrangements offered by various trading partners.
Which glossary terms are related to GSP (Generalised System of Preferences)?
GSP (Generalised System of Preferences) is a regional trade term in the South African import/export industry. Related terms in the same area include AfCFTA Tariff Phase-Down, AGOA (African Growth and Opportunity Act), CBAM (Carbon Border Adjustment Mechanism), Certificate of Origin, COMESA (Common Market for Eastern and Southern Africa) — each has its own plain-English definition in the TradeCaravan glossary.