Oftentimes companies find importing is burden some and extra levied cost with stress. At GSI, we understand the trouble of our client and make our system accessible and transparent for each of our client at each stage of the order processing.
Awareness is inevitable to extract profit and sustain a good business, we ensures at GSI that importing goods for our client becomes profitable and competitive advantage.
Through this journal we would like to aware our European clients about GSP & its benefits.
What is GSP?
The Generalized System of Preferences (known as GSP for short) is a scheme whereby a wide range of industrial and agricultural products originating in certain developing countries are given preferential access to the markets of the European Union.
Preferential treatment is given in the form of reduced or zero rates of customs duties.
The GSP scheme is specifically designed to benefit certain developing countries and integrate them into the world economy.
How do goods qualify as originating products?
The concept of “originating product” forms the basis upon which preferential access is granted to products entering the EU under GSP. Products are considered as originating in two ways:
- Products wholly obtained in a GSP country
- Products considered to be originating in a GSP country when the raw materials used are sufficiently worked or processed
Next time onwards please request for your GSP certificate with shipment.
Right from Founder’s desk