The export of Armenian products by the US privileged regime will again be possible after extension of the Generalized System of Preferences by the Congress, Hovhannes Azizyan – Armenia’s deputy minister of economic development and investments said.
Armenia waits for extension of US’ GSP trade program
STEPANAKERT, MARCH 24, ARTSAKHPRESS-ARMENPRESS:The deputy minister’s delegation recently participated in the second session of the Armenia-US Council on Trade and Investments in Washington D.C..
He informed that after the extension of this program the economic entities, who have made additional expenditures, will be compensated. “The US GSP program doesn’t operate for all countries at this stage. The Congress is going to adopt a decision to extend it in the near future. And the companies, which during this period imported goods and paid high customs duties than envisaged within the GSP framework, will receive back their money after the adoption of the decision by the US Congress”, the official said, adding that they hope the system will continue operating and the exporters will not face any problems.
Commenting on the added 10% customs duty on import of US aluminum foil, the deputy minister said here as well there are some regulation mechanisms. “As the aluminum foil is one of our exported products, we have also discussed this issue. We were informed that a special procedure has already been set and transferred to the Armenian side within the frames of the session. According to the procedure, the companies importing from the American side can apply and, in case of explaining the necessity to import that product at a lower customs duty, may receive a privilege, and the additional 10% customs duty will not be charged”, he said.
The Generalized System of Preferences (GSP) is a US trade program designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 4,800 3451 products from 129 designated beneficiary countries, including Armenia.
