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.