Everything But Arms, EBA

(Photo: Notat)
In 1995 the developed countries in the World Trade Organisation (WTO) committed themselves to open their markets to the exports of the 48 Least Developed Countries (LDC). Since few things happened, the EU re-launched the EBA in February 2001 to grant the world’s 48 poorest countries full duty-free and quota-free access to the EU for all products except arms.
This is part of the generalised system of preferences (GSP).

There is, however, an eight-year exception (derogation) covering sugar, bananas and rice. This derogation has been severely criticised, as these products are among the most important export commodities for several poor countries.