Description
Global System of Trade Preferences (GSTP) among developing countries, signed on 13 April 1988. By 2021, GSTP economies represented more than $16 trillion market and generated around $4.4 trillion in import demand for goods. When writing this research, the Global System of Trade Preferences (GSTP) emerged as a response to economic challenges, aiming to promote trade among developing countries and increase economic development, production, and employment in developing nations through preferential trade arrangements. The Author discusses the challenges developing countries face in the global economic landscape and advocates a more in-depth analysis of the GSTP's impact on trade flows, economic growth, and development outcomes in developing countries. A note to remember, in 1988, the total number of countries in the world was 165, and with the dissolution of the Soviet Union and Yugoslavia and the formation of a few states, today the number has exceeded 195 countries.
