Mongolia is listed as the GSP+ Beneficiary country again

It was recently announced that Mongolia can export goods without tax to 27 European countries until 2012.

Mongolian entities have benefited by Tg 11 billion from the GSP+ beneficiary from2006-2008. Preferential imports under the GSP+ scheme totaled over Euro 4.4 billion in 2006 (an increase of 17% over 2005) and Euro 4.7 billion in 2007.
The primary objective of the GSP is to contribute to the promotion of sustainable development and product governance. The additional preferences available under the GSP+ arrangement act as an incentive for vulnerable developing countries in ratifying and effectively implementing a set of key international conventions. These represent widely recognized international standards in the fields of human rights, core labor standards, sustainable development and good governance. The tariff preferences – which take the form of a duty-free access in the otherwise applicable standard tariffs – cover roughly 6400 tariff lines.

The qualifying criteria for the GSP+ are set out in the GSP Regulation. Any GSP+ beneficiary country must be both “vulnerable”, according to a definition established in the GSP Regulation, and must have ratified and effectively implemented 27 specified international conventions in the fields of human rights, core labor standards, sustainable development and good governance.

Source: The UB Post

December 25, 2008