PUBLISHED THE EUROPEAN REGULATION SUSPENDING SPECIFIC GSP TARIFF PREFERENCES

The European Union has published the Regulation* suspending GSP (Generalized System of Preferences) tariff preferences in respect of Countries and products as table below. The duty will apply from 1 January 2014 until 31 December 2016. During that period, imports in the EU will pay the MFN (Most Favoured Nation) duty nevertheless the presentation of a FORM A certificate.
The measure is due to a “safeguard mechanism” of GSP system: the tariff preferences shall be suspended, in respect of products of a GSP section originating in a GSP beneficiary country, when the average value of Union imports of such products over three consecutive years from that GSP beneficiary country exceeds the 17,5% (14,5% for textile products) calculated on the total value of Union imports of the same products from all GSP beneficiary countries.

-TABLE-LIST OF SUSPENDED PREFERENCES**

COUNTRY	PRODUCTS
China	- All industrial products
India	- Raw hides and skins and leathers (Chapter 41) - All textile materials (From chapter 50 to chapter 60) - Motor vehicles, bicycles, aircraft and spacecraft, ships and boats (Chapter 87)
Nigeria	- Raw hides and skins and leathers (Chapter 41)
Ukraine	- Railway and tramway vehicles and products (Chapter 86)
Thailand	- Pearls and precious metals

* Commission Implementing Regulation (EU) No. 1213/2012
** The table only lists industrial products from chapter 39 to chapter 98 of Harmonised System. For products included in other chapters, please contact us.

___________________________________________________________

EUROPEAN UNION AND UNITED STATES TO LAUNCH NEGOTIATIONS FOR A FREE TRADE AGREEMENT

The EU and US have decided to take their economic relationship to a higher level by agreeing to launch negotiations for a comprehensive trade and investment agreement.
The “High Level Working Group”, created in November 2011, has published on February, 11th, his final report analysing policies and measures for a bilateral economic growth and international competitiveness and recommending the launch of negotiations.

Negotiations will aim to achieve ambitious outcomes in three broad areas:
a)Market access: removal of all duties in industrial and agricultural products and liberalization of services, investment and procurement.
b)Removal of Non-Tariff Barriers and mutual recognition of technical standards.
c)Address the negotiations to go beyond bilateral trade and to contribute to the strengthening of the multilateral trading system.