The EU Extends GSP for Developing Nations

On March 24, 2011, the European Parliament voted to extend the European Union's generalized tariff preferences for developing countries to December 31, 2013 (from January 1, 2012). The vote comes after the Parliament received a pledge from the European Commission to share information on the decision-making process surrounding the generalized system of preferences (GSP). The EU GSP will be revisited in negotiations later in 2011.