GSTP meaning

The GSTP (Global System of Trade Preference) is an Agreement on economic co - operation for promotion of trade by providing preferential trading among developing countries . The scope of GSTP has included complementary trade liberalization techniques as follow:

a) tariff reduction

b) removal or reduction of non-tariff and para-tariff barriers

c) direct trade measures as well as mid-term and long-term contracts

d) sectoral agreement