An agreement where a large number of developed counties permit duty-free imports of a selected list of products that originate from specific countries is known as _____.

Question

Quizplus · Accepted Answer

The description matches the definition of the Generalized System of Preferences (GSP), which is a preferential tariff system that allows duty-free imports of selected products originating from developing countries. This arrangement aims to promote economic growth in developing countries by granting them easier access to markets in developed countries.

An Agreement Where a Large Number of Developed Counties Permit