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4.9GSP was instituted by the UNCTAD in 1971. The 13 countries that provide GSP preferences to emerging and developing countries are: Australia, Belarus, Canada, European Union, Iceland, Japan, Kazakhstan, New Zealand, Norway, Russia, Switzerland, Turkey, and USA.
Tariff Preferences: GSP provides reduced or zero tariffs on imports from eligible developing countries. This helps these countries to be more competitive in the international market.
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