The designation allows products of designated developing countries to pay lower custom duties when they enter the markets of developed countries, with no obligation of reciprocity. .
.
The decision follows an investigation opened in mid-2003 to determine if Algeria could benefit from this system, allowed under international trade rules. .
.
At the same time ten other countries will loose their designation: Antigua and Barbuda, Bahrain, and Barbados have been designated “high income” countries and will loose their designation on January 1, 2006. .
.
The designation of the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, and Slovakia as beneficiary developing countries for purposes of the GSP is terminated for each country on the date when it becomes a European Union member state, according to the White House statement.
Date:3/4/2004
Source: