GSTP: Global System of Trade Preferences

The GSTP was established in 1989 as a framework for preferential tariff reductions and other measures of cooperation, including -para-tariffs, non-tariff measures, direct trade measures including medium and long-term contracts and sectoral agreements-, to stimulate trade between developing countries. Today, only preferential tariffs are covered by the Agreement. Today, the GSTP membership extends to 42 developing countries, including Mercosur. The GSTP membership also includes 7 least developed countries (LDCs).