Breaking News, World News and Taiwan News.

Several high-income states lose their EU trade benefits

BRUSSELS -- A score of high-income nations such as Brazil, Russia and the Gulf states lost their privileged access to the EU's 500 million consumers on Wednesday as the bloc handed their benefits to poorer states.

Issuing a revised list of countries entitled to reduced- or zero-import tariff rates for the world's biggest consumer market, the EU's executive said that the “new scheme will be focused on fewer beneficiaries to ensure more impact on countries most in need.”

The new system of Generalised System of Preferences will come into effect Jan. 1, 2014, for 89 nations, 49 of which are listed as least developed countries. Of these, 33 are in Africa, 10 in Asia, including Myanmar, five in the Pacific and Haiti in the Caribbean.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search