GSP, GSP+ and Developing Countries: Withdrawal and Its Implications and the Future of Bangladesh

The world is developing day by day economically and technologically. Trading between many countries have increased a lot due to this globalization. To stay in the race, the developed countries have given GSP benefit to the developing countries. Bangladesh is not an exception to this benefit. In this paper, we have discussed how GSP is giving benefit to the developing countries and what influential component it carries and how the withdrawal of GSP cause problem for developing countries. I have focused about the new EU’s GSP+ scheme form the viewpoint of Bangladesh. The existing gaps still prevailing in the labour laws of Bangladesh. Finally, the Bangladesh’s plan whether to go with new GSP+ scheme or make alternative plan to cope up in the race of international trade.