2Under Regulation (EU) No 978/2012 of the European Parliament and of the Council of 25 October 2012 applying a scheme of generalised tariff preferences and repealing Council Regulation (EC) No 732/2008 (OJ 2012 L 303, p. 1) (‘the GSP Regulation’), the European Union grants developing countries preferential access to its market in the form of a reduction in the ordinary duties of the Common Customs Tariff, which consists of a general arrangement and two special arrangements.
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