The Cabinet meeting adopted, Thursday, in principle the Protocol of Sao Paolo on the Global System of Trade Preferences among developing countries (GSTP).
During a press conference after the Cabinet meeting, Communication Minister, Government Spokesman Khalid Naciri said the Secretary of State for Foreign Affairs presented the last paragraph of Sao Paolo Protocol on the Global System of Trade Preferences among developing countries, which was adopted at the extraordinary session of the negotiation commission on the system of trade preferences among developing countries that held a meeting at the ministerial level on December 15, 2010 in Foz do Iguazu in Brazil.
At the inter-regional level, the third round of negotiations under the Global System of Trade Preferences
Among Developing Countries (GSTP) promises to act as a major catalyst for trade creation and expansion among developing countries of different regions (see box).
Negotiators from 22 nations, including Brazil, India, Indonesia, Democratic People's Republic of Korea, Republic of Korea and Zimbabwe, reached an outline agreement on a new round of concessions under the Global System of Trade Preferences
Among Developing Countries (GSTP), following meetings of the UNCTAD.