Generalized System of Preferences is a preferential tariff system granted by bunch of developed countries to developing or least developed countries.
Under Generalized System of Preferences schemes less developed countries or developing countries would benefit from reduced or zero tariff rates when exporting permitted products to GSP donor countries.
Today I would like to explain the fundamentals Generalized System of Preferences (GSP), who could get benefited from GSP incentives and how to get benefited from reduced GSP tariffs.
