Home / Knowledge / News / 15 countries urge renewal of duty-free access to US market
15 countries urge renewal of duty-free access to US market
15
Jun '13
The Alliance of GSP Countries (A-GSP), a loose grouping of 15 developing nations, has urged the US Government to extend the duty-free treatment of US imports form their countries.
 
The fifteen nations are Algeria, Bangladesh, Ecuador, Fiji, Georgia, Indonesia, Moldova, Mongolia, Pakistan, Philippines, Sri Lanka, Thailand, Tunisia, Uruguay, and Yemen.
 
These countries enjoy duty-free facility under the Generalized System of Preferences (GSP), which expires on July 31, 2013.
 
“The Alliance seeks for Congress to renew the GSP quickly and for as long as possible. If not, the nations face adverse impacts to their economies and workers, and U.S. companies will pay $2 million daily in unexpected tariffs for essential raw materials and product inputs,” the A-GSP said in a statement.
 
In a letter to the Members of the US Congress, the Ambassadors of the 15-nations jointly said, “GSP benefits more than 3.8 billion people living in two-thirds of the world’s economies. The GSP also strengthens the U.S. economy by generating tens of thousands of jobs and providing U.S. manufacturers with needed inputs.”
 
“In 2012, alone, the GSP saved U.S. companies and consumers $750 million in duties on $20 billion of U.S. imports. Seamless GSP renewal is a priority for many American companies that keep competitive through importing raw materials, intermediary goods, and machinery duty-free.”
 
In a letter addressed to Mr. Dave Camp, chairman of the Committee on Ways and Means, A-GSP said, “The 
GSP has been very successful in generating investment in the production of thousands of eligible products, which create employment for workers who often are the sole support for their families.” 
 
“However, investors and businesses require a predictable environment regarding the duty treatment of their products. If Congress allows the GSP to lapse or if it is extended only for a short time, any certainty disappears and the program’s benefits are seriously undermined,” it adds.
 

Fibre2fashion News Desk - India


Must ReadView All

US commerce department finds dumping of low melt PSF

Textiles | On 20th Jun 2018

US commerce department finds dumping of low melt PSF

The US department of commerce (USDC) has announced affirmative final...

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search