The GSTP was established in 1989 as a framework for preferential tariff reductions and other cooperative measures, including „para-tariffs, non-tariff measures, direct trade measures, including medium- and long-term contracts and sectoral agreements“, with a view to promoting trade among developing countries. Today, only preferential duties are covered by the agreement. Cuba`s ratification of the São Paulo Round of the Global System of Trade Preferences (GSTP) will accelerate the implementation of the agreement, other GSTP participants said. The Global System of Trade Preferences among Developing Countries (GSTP) is a preferential trade agreement signed on 13 April 1988 with the aim of increasing trade between developing countries within the framework of the United Nations Conference on Trade and Development. [1] It entered into force on 19 April 1989 and its notification to the WTO on 25 September 1989. Trade cooperation under the GSTP could therefore generate significant trade benefits. The idea of a common institutional platform for South-South trade cooperation was conceived and developed by the group from the 77s to the 1970s and 1980s. Other current Member States: Algeria, Argentina, Benin, Bolivia, Brazil, Cameroon, Chile, Colombia, Ecuador, Egypt (16-07-89), Macedonia, Guinea, Guyana (04-05-89), Indonesia, Iran, Iraq, North Korea, North Korea, South Korea (11-06-89), Libya, Malaysia (31-08-89), Mexico (13-05-89), Morocco (13-07-89), Mozambique, Myanmar, Nicaragua (03-05-89), Pakistan (08-07-89), Peru (15-04-89), Philippines, Sudan, Thailand, Trinidad and Tobago, Tunisia (25-08-89), Venezuela, Vietnam and the merc trading bloc OSUR (2-11-2006)[3] In 2004, UNCTAD XI decided to start the third round of negotiations or the São Paulo Round on the occasion of UNCTAD XI in São Paulo, Brazil. The purpose of the negotiations is to extend and deepen tariff concessions, in particular with a view to promoting interregional trade between participants. The UNCTAD secretariat provides substantive and administrative support for the implementation of the CSTP Convention. Today, GSTP membership covers 42 developing countries, including Mercosur.

GSTP membership also includes 7 Least Developed Countries (LDCs). Within the framework of the GSTP, its participants aim to promote economic growth and development using South-South trade. GSTP participants are currently working to revive the agreement in light of the latest political developments, including the outcomes of the Second United Nations High-Level Conference on South-South Cooperation (BAPA+40), held from 20 to 22 March 2019, in Buenos Aires, Argentina, calling for the strengthening of South-South trade cooperation, including under the auspices of the GSTP. The small number of current concessions limits the use of GSTP by LDCs. Former members: Yugoslavia (from 19-04-1989), Romania (from 19-04-1989 to its accession to the EU) The 42 participants in the GSTP are: Algeria, Argentina, Bangladesh, Benin, Bolivia, Brazil, Cameroon, Chile, Cuba, Democratic People`s Republic of Korea, Ecuador, Egypt, Ghana, Guinea, Guyana, India, Indonesia, Islamic Republic of Iran, Iraq, Libya, Malaysia, Mexico, Morocco, Mozambique, Myanmar, Nicaragua, Nigeria, Pakistan, Peru, Philippines, Republic of Korea, Singapore, Sri Lanka, Sudan, Thailand, Trinidad and Tobago, Tunisia, United Republic of Tanzania, Venezuela, Vietnam, Zimbabwe and Mercosur. . . .