Brussels, 12/02/2014 (Agence Europe) - If the European Parliament agrees, Guatemala, Panama and El Salvador will re-join the European Union's list of countries benefiting from trade preferences under the EU's special incentive arrangement for sustainable development and good governance (GSP+) for the two-year transition period laid down for implementing the EU-Central America free-trade deal.
On 11 February, the EU Council of Ministers decided not to object to the adoption by the European Commission of a regulation adding Guatemala, Panama and El Salvador to the GSP+ list. This delegated act will not come into force until the European Parliament has agreed to it.
The free-trade agreement with the EU allows Central American countries to enjoy the GSP+ scheme for a two-year transition period starting from when the trade deal comes into force - 1 October 2013 for Costa Rica and El Salvador, and 1 December 2013 for Guatemala - after which period they will have to leave GSP+.
Under the new GSP, which came into force on 1 January 2014 (see EUROPE 10994), ten vulnerable developing countries currently benefit from trade preference incentives for human rights and good governance. The GSP+ countries are Costa Rica, Armenia, Bolivia, Cape Verde, Ecuador, Georgia, Mongolia, Paraguay, Peru and Pakistan. (EH/transl.fl)