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Generalized System Of Preferences
The GENERALIZED SYSTEM OF PREFERENCES, or GSP, is a preferential tariff system which provides for a formal system of exemption from the more general rules of the World Trade Organization
World Trade Organization
(WTO), (formerly, the General Agreement on Tariffs and Trade
General Agreement on Tariffs and Trade
or GATT). Specifically, it's a system of exemption from the most favored nation principle (MFN) that obliges WTO member countries to treat the imports of all other WTO member countries no worse than they treat the imports of their "most favored" trading partner. In essence, MFN requires WTO member countries to treat imports coming from all other WTO member countries equally, that is, by imposing equal tariffs on them, etc. GSP exempts WTO member countries from MFN for the purpose of lowering tariffs for the least developed countries, without also lowering tariffs for rich countries
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United States
Coordinates : 40°N 100°W / 40°N 100°W / 40; -100 United States
United States
of America Flag Great Seal MOTTO: " In God We Trust " Other traditional mottos * " E pluribus unum
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Global System Of Trade Preferences Among Developing Countries
The GLOBAL SYSTEM OF TRADE PREFERENCES AMONG DEVELOPING COUNTRIES (GSTP) is a preferential trade agreement signed on 13 April 1988 with the aim of increasing trade between developing countries in the framework of the United Nations Conference on Trade and Development
United Nations Conference on Trade and Development
. Its entry into force was on 19 April 1989 and its notification to the WTO on 25 September 1989
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Sub-Saharan Africa
SUB-SAHARAN AFRICA is, geographically, the area of the continent of Africa
Africa
that lies south of the Sahara . According to the UN , it consists of all African countries that are fully or partially located south of the Sahara. It contrasts with North Africa
Africa
, whose territories are part of the League of Arab states within the Arab world . Somalia
Somalia
, Djibouti
Djibouti
, Comoros
Comoros
and Mauritania
Mauritania
are geographically in Sub-Saharan Africa, but are likewise Arab states and part of the Arab
Arab
world. The Sahel
Sahel
is the transitional zone between the Sahara and the tropical savanna (the Sudan
Sudan
region ) and forest-savanna mosaic to the south
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World Trade Organization
The WORLD TRADE ORGANIZATION (WTO) is an intergovernmental organization that regulates international trade . The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement , signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade
Trade
(GATT), which commenced in 1948. It is the largest international economic organization in the world. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member governments :fol.9–10 and ratified by their parliaments. Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994)
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European Commission
The EUROPEAN COMMISSION (EC) is an institution of the European Union , responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU. Commissioners swear an oath at the European Court of Justice
European Court of Justice
in Luxembourg, pledging to respect the treaties and to be completely independent in carrying out their duties during their mandate. The Commission operates as a cabinet government , with 28 members of the Commission (informally known as "commissioners"). There is one member per member state , but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state
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European Union
The EUROPEAN UNION (EU) is a political and economic union of 28 member states that are located primarily in Europe. It has an area of 4,475,757 km2 (1,728,099 sq mi), and an estimated population of over 510 million. The EU has developed an internal single market through a standardised system of laws that apply in all member states. EU policies aim to ensure the free movement of people, goods, services, and capital within the internal market, enact legislation in justice and home affairs, and maintain common policies on trade, agriculture , fisheries , and regional development . Within the Schengen Area , passport controls have been abolished. A monetary union was established in 1999 and came into full force in 2002, and is composed of 19 EU member states which use the euro currency
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Special
SPECIAL or SPECIALS may refer to: CONTENTS * 1 Music * 2 Film and television * 3 Other uses * 4 See also MUSIC * Special (album) , a 1992 album by Vesta Williams * "Special" (Garbage song) , 1998 * "Special" (Mew song) , 2005 * "Special" (Stephen Lynch song) , 2000 * The Specials
The Specials
, a British band * "Special", a song by Violent Femmes on The Blind Leading the Naked * "Special", a song on
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Ministry Of Foreign Affairs (Japan)
The MINISTRY OF FOREIGN AFFAIRS (外務省, Gaimu-shō) is a cabinet level ministry of the Japanese government responsible for the country's foreign relations . The ministry was established by the second term of the third article of the National Government Organization Act , and the Ministry of Foreign Affairs Establishment Act
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Japan
Coordinates : 35°N 136°E / 35°N 136°E / 35; 136 Japan 日本国 Nippon-koku or Nihon-koku Flag Imperial Seal ANTHEM: * " Kimigayo " * 君が代 "His Imperial Majesty's Reign" GOVERNMENT SEAL OF JAPAN * * Go-Shichi no Kiri (五七桐) Area controlled by Japan
Japan
shown in green—claimed, but uncontrolled shown in light green Capital and largest city
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Haiti
Coordinates : 19°00′N 72°25′W / 19.000°N 72.417°W / 19.000; -72.417 Republic
Republic
of Haiti * République d'Haïti (French ) * Repiblik Ayiti ( Haitian Creole ) Flag Coat of arms MOTTO: " Liberté, égalité, fratern
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Nepal
NEPAL (/nəˈpɔːl/ ( listen ); Nepali : नेपाल Nepāl ), officially the FEDERAL DEMOCRATIC REPUBLIC OF NEPAL (Nepali : सङ्घीय लोकतान्त्रिक गणतन्त्र नेपाल Sanghiya Loktāntrik Ganatantra Nepāl), is a landlocked central Himalayan country in South Asia . Nepal
Nepal
is divided into 7 states and 77 districts and 744 local units including 4 metropolises, 13 sub-metropolises, 246 municipal councils and 481 villages. It has a population of 26.4 million and is the 93rd largest country by area. Bordering China
China
in the north and India
India
in the south, east, and west, it is the largest sovereign Himalayan state . Nepal
Nepal
does not border Bangladesh
Bangladesh
, which is located within only 27 km (17 mi) of its southeastern tip
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Malaysia
Coordinates : 2°30′N 112°30′E / 2.500°N 112.500°E / 2.500; 112.500 Malaysia Flag Coat of arms MOTTO: "Bersekutu Bertambah Mutu" "Unity Is Strength" ANTHEM: Negaraku My Country CAPITAL Kuala Lumpur
Kuala Lumpur
3°8′N 101°41′E / 3.133°N 101.683°E / 3.133; 101.683
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United Nations Conference On Trade And Development
The UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT (UNCTAD) was established in 1964 as a permanent intergovernmental body. UNCTAD is the principal organ of the United Nations
United Nations
General Assembly dealing with trade, investment, and development issues. The organization's goals are to: "maximize the trade , investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis." The primary objective of UNCTAD is to formulate policies relating to all aspects of development including trade, aid, transport, finance and technology. The conference ordinarily meets once in four years; the permanent secretariat is in Geneva. One of the principal achievements of UNCTAD(1964) has been to conceive and implement the Generalised System of Preferences (GSP)
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Most Favored Nation
In international economic relations and international politics, "MOST FAVORED NATION" (MFN) is a status or level of treatment accorded by one state to another in international trade . The term means the country which is the recipient of this treatment must nominally receive equal trade advantages as the "most favored nation" by the country granting such treatment. (Trade advantages include low tariffs or high import quotas .) In effect, a country that has been accorded MFN status may not be treated less advantageously than any other country with MFN status by the promising country. There is a debate in legal circles whether MFN clauses in bilateral investment treaties include only substantive rules or also procedural protections. The members of the World Trade Organization (WTO) agree to accord MFN status to each other. Exceptions allow for preferential treatment of developing countries , regional free trade areas and customs unions
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General Agreement On Tariffs And Trade
GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas . According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." It was first discussed during the United Nations
United Nations
Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). GATT was signed by 23 nations in Geneva
Geneva
on October 30, 1947 and took effect on January 1, 1948
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