Updated system of GSP of EU to create investment opportunities for Kyrgyzstan

Kyrgyzstan has been using the scheme of Generalized System of Preferences (GSP) since 1993. Under this scheme, the EU provides preferences for the import of about 7,000 items. Of these, 3,300 headings provided duty-free access, and 3,700 apply reduced rates of customs duties.

Kyrgyzstan plans to join the updated system of general preferences of the European Union, the Ministry of Economy of the KR reported.

Changes in the current GSP regime was approved in October 2012 and entered into force in 2014. GSP schemes+ provide duty-free access to goods, for which the standard GSP provides a tariff reduction and expands the list of preferential goods

Under the scheme of GSP+ the KR will receive duty-free access to the EU market for goods, which it already exports, or goods that a country would like to promote in the future. These are textiles, raw and processed fruit.

By obtaining the updated the GSP+ status of EU, new opportunities for investment will be created for Kyrgyzstan.

Recent Posts

Oysho, Fulgar launch sportswear collection with sustainable yarn

Oysho, the sportswear and leisurewear brand, has collaborated with Fulgar to introduce a new eco-friendly activewear collection made with Q-Cycle…

22 hours ago

Autoneum launches lightweight e-fiber shields

Autoneum has developed E-Fiber flame shields for electric vehicles, which stand out for their high-temperature resistance, lightweight structure and durability.

23 hours ago

McLaren unveils ART carbon fiber for next-gen supercars

McLaren has introduced a world-first innovation in supercar engineering, Automated Rapid Tape (ART) carbon fibre redefining performance while reducing waste.

23 hours ago

Delius pioneers sustainable flame-retardant fabrics

Delius, a renowned textile manufacturer based in Bielefeld, Germany, is setting new benchmarks in sustainable contract fabrics with its EcoSafe…

2 days ago

Bank & Vogue elevates circularity upcycled collaborations

Bank & Vogue, the parent company of Beyond Retro, is redefining sustainability in the fashion industry through groundbreaking upcycling projects.

2 days ago

Ravel secures funding to transform textile recycling

Ravel, a recycling startup, has successfully closed its pre-seed funding round, marking a major milestone in its mission to revolutionize…

2 days ago