Regulation (EU) 2023/2663

What it is

to extend the validity of Regulation (EU) No 978/2012 applying a generalised tariff preference scheme (GSP) until 31 December 2027. PROPOSED ACT: Regulation of the European Parliament and of the Council. ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council. BACKGROUND: since 1971, the Community has granted trade preferences to developing countries under its Generalised System of Preferences (GSP). Regulation (EU) No 978/2012 of the European Parliament and of the Council provides for the application of the GSP until 31 December 2023, with the exception of the special scheme for the least-developed countries to which that expiry date does not apply. The European Parliament adopted by 561 votes to 5, with 2 abstentions, a legislative resolution on the proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 978/2012 of the European Parliament and of the Council of 25 October 2012 applying a scheme of generalised tariff preferences and repealing Council Regulation (EC) No 732/2008. The European Parliament adopted its position at first reading, taking over the Commission's proposal. Since 1971, the European Union (EU) has granted trade preferences to developing countries under the Generalised System of Preferences (GSP), currently under three different schemes: standard GSP, GSP+ and Everything But Arms, the special arrangement for the least developed countries. The current regime is based on Regulation (EU) No 978/2012 and applies until 31 December 2023. On 22 September 2021, the Commission presented a proposal for a Regulation of the European Parliament and of the Council applying a generalised scheme of tariff preferences scheme of generalised tariff preferences and repealing Regulation (EU) No 978/2012. The proposed subsequent regulation is expected to enter into force on 1 January 2024. However, the relevant ordinary legislative procedure is ongoing and may not be completed by 31 December 2023. The proposal aims to extend the duration of Regulation (EU) No 978/2012 by four years in order to ensure the continued operation of the scheme beyond 31 December 2023 and to allow sufficient time for the completion of the current legislative procedure. The proposal amends only the date of application of Regulation (EU) No 978/2012, extending it until 31 December 2027 .

Frequently asked