Wednesday, September 13 2017 12:42
Naira Badalian

Garegin Melkonyan and US Deputy Trade Representative on Trade Policy and Economics discussed issues related to GSP

Garegin Melkonyan and US Deputy Trade Representative on Trade Policy  and Economics discussed issues related to GSP

ArmInfo. Deputy Minister of  Economic Development and Investments of Armenia Garegin Melkonyan  received on September 12 US Trade Representative for Trade Policy and  Economics Edward Gresser and Head of Trade Policy and Negotiations  Department of the Labor Department Anne Zolner.

 The meeting was attended by representatives of the Ministry of  Economic Development and Investments, the Development Fund of Armenia  and the American Embassy in Armenia.

According to the press service of the Ministry of Economic  Development and Trade of Armenia, the parties discussed issues  related to the Generalized System of Preferences (GSP). The  importance of ensuring the transparency of processes within the  framework of GSP, carrying out activities aimed at increasing the  availability of information and awareness of its potential  participants was stressed.  During the meeting, the interlocutors  discussed the implementation of works carried out within the  framework of the Armenia-US Trade and Investment Council.

The Generalized System of Preferences (GSP) is a system of  preferential customs tariffs applied by developed countries to goods  exported from developing countries in order to promote their economic  growth and increase their export potential. It includes preferential  MFN tariffs or duty-free importation of products exported by  beneficiary countries to the markets of preferential countries.  Armenia enjoys the status of the GSP beneficiary country with Canada,  Japan, Norway, Switzerland and the United States. Due to the GSP, the  Armenian goods more than 3500 items of goods can be exported at zero  customs duty. On January 1, 2009, Armenia was included in the list of  countries that received the GSP + regime from the European Union,  which affects more than 6,400 items.

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