Generalized System Of Preferences at Business Glossary

What is it? A program of tariff preferences for designed to encourage the economic growth of certain developing countries. In accordance with the Generalized System of Preferences (GSP), developed countries let the manufactured and semi-manufactured goods of eligible developing countries enter with either no duty or a lower rate, than is applied to other countries.

Business Dictionary Term Definition Added By: Xavier

Send To Friends!

If you'd like to send the Generalized System Of Preferences definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Generalized System Of Preferences. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Business Terms:

Business Term Political Risk is The risk that a sovereign host government will unexpectedly change the rules of the game under which businesses operate. Political risk includes both macro and micro risks.

Business Term international monetary system is Institutional arrangements countries adopt to govern exchange rates.

Business Term Unfair Trade Practice is Unusual government support to firms, ranging from export subsidies to anti- competitive practices by the firms themselves, such as dumping, boycotts or discriminatory shipping arrangements, that result in competitive advantages in international trade for the benefiting firms.

Business Term Other long term liabilities is Value of leases, future employee benefits, deferred taxes and other obligations not requiring interest payments that must be paid over a period of more than 1 year.

Business Term freely convertible currency is A countrys currency is freely convertible when the government of that country allows both residents and nonresidents to purchase unlimited amounts of foreign currency with the domestic currency.