Charles Tannock (ECR). – Madam President, I, too, voted in favour of this report on generalised tariff preferences as a means of promoting economic growth through trade in developing countries. I strongly believe that, since it came into force in 1971, it has had an overall positive impact.

It is extremely encouraging that the least developed countries are able to participate in international trade in this way and are thus able to support their own poverty reduction schemes and their own sustainable development projects through the additional export revenue that this generates and by easier access to EU markets.

Of course, it is also important that we also reasonably defend EU industries, at the same time as providing benefits to third countries. So we must remember to create the right balance in this regard with a level playing field. Politically, I generally support the idea that trade preferences rather than aid handouts are an extremely useful tool for promoting economic development and growth in those less developed countries outside the European Union.