On October 31st the European Commission issued a revised regulation on the GSP for developing countries most in need that will take effect from 1 January 2014, thus giving time to economic operators to adapt to the revised regime. The revised regulation has been endorsed by the Council and the European Parliament and it contains the specific tariff preferences granted under the GSP in the form of reduced or zero tariff rates as well as the final criteria, which constitute the condition in order to benefit from the scheme.