The ________ is a GATT scheme that allows a developing state to obtain tariff concessions from a developed state on a nonreciprocal basis.

Question

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The Generalized System of Preferences (GSP) is a GATT scheme that allows a developing state to obtain tariff concessions from a developed state on a nonreciprocal basis. This helps the developing state to increase its exports and promote economic development. The GSP is based on the principle of preferential treatment, which means that certain products from eligible developing countries are granted preferential access to the market of the developed country.

The ________ Is a GATT Scheme That Allows a Developing