The European Community was the first to implement the system of generalized scheme of preferences(GSP) within the framework of a scheme which came into effect on 1 July 1971. The Community`s GSP has been subject to more or less automatic renewal with complete revision every 10 years. But the 3rd ten-year review, which was originally scheduled for 1 January 1991. was postponed pending the conclusion of Uruguay Round. Therefore, the new GSP should be in place by January 1995. In the past, a number of regulation would be adopted each year by the Council establishing the preferential arrangements applicable from 1 January to 31 December for products covered by the scheme and originating in the beneficiary countries. However, the new scheme will be multiannual. The multiannual scheme will concern only industrial products. For agricultural products, the provisions currently in force will be provisionally for one year in 1995, and a new three-year agricultural scheme will be introduced the year after. According to new GSP, the prefential duty is no longer automatically zero, but will be modulated in line with the category of sensitivity established for each product. There are four types of product; very sensitive products, sensitive products, semi-sensitive products and non-sensitive products. And the new scheme for industrial products incorporate general arrangements and special incentive arrangements. The Republic of Korea graduated the Community`s GSP on 1 May 1998. This fact means the our country, on the one hand, has to provide a appropriate means for increase external competitiveness, and it is time that we, on the other hand, discussed the introduction of GSP systems in Korea. For this purpose, we consider the Community`s GSP scheme will be used as a typical example.
(0)
(0)