At the end of 2008 the Republic of Armenia officially applied to the European Commission for the EU preferential trade scheme “GSP+”.
Since January 1, 2009 the Republic of Armenia has been benefitting from the EU's Special Incentive Arrangement for Sustainable Development and Good Governance “GSP+”.
According to the European Commission regulation, Armenia was included in the list of beneficiaries of the Special Incentive Arrangement for Sustainable Development and Good Governance (GSP+) under the reformed EU Generalised Scheme of Preferences (GSP) as of January 1, 2014 (GSP Regulation 978/2012).
The GSP+ scheme grants Armenia duty reductions on exports to the EU on 6200 tariff lines.
Under the GSP+ scheme the country undertakes to maintain the ratification and ensure the effective implementation of 27 core international conventions on human and labour rights, environmental protection, sustainable development and good governance.
According to the reformed GSP Regulation, the European Commission monitors systematically the GSP+ beneficiaries' compliance with their binding commitments, in particular their effective implementation of the 27 core international conventions.