Tariff preferences for developing countries, by which developed countries let certain manufactured and semi-manufactured imports from developing countries enter at free or lower tariffs than the same products from developed countries. The purpose of the program is to foster economic growth in developing countries by increasing their export markets.
Bangladesh, being one of the Least developing Countries
(LDCs), is yet to get
Generalised System of Preferences
(GSP) facilities for access the US market for its garments products,
while
it
enjoys GSP facilities
in the
European
Union (EU) countries.