Trade preferences from the European Union are meant to help the least developed countries (LDCs) join the global economy. The EU's Everything but Arms initiative, started in 2001, has had a limited impact on LDC exports because most products were already tariff-free. Some LDCs benefit more from EU preferences than others, depending on their export structures. However, only half of eligible LDCs take advantage of these preferences, mainly due to strict rules on where products are made and the paperwork needed. Simplifying these rules could help LDCs access EU markets and diversify their exports.