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US GSP extension restored on 22 Apr, refunds not automatic
27
Apr '18
US GSP extension restored on 22 Apr, refunds not automatic
The US generalized system of preferences (GSP) programme was restored for Cambodia beginning 22 April, renewing access to duty-free privileges for exporters. The renewal is retroactive, allowing exporters from beneficiary nations to claim refunds for transactions made after the GSP scheme expired on December 31 last. However, refunds will not be automatic.

Importers need to file a refund request with US Customs and Border Protection, according to Cambodian media reports.

The US GSP programme was established in 1974 to promote economic growth in the developing world. Cambodia is one of 120 beneficiary nations.

The GSP extension is part of the Consolidated Appropriations Act, 2018, an omnibus spending bill signed into law by President Donald Trump on March 23.

Kaing Monika, deputy secretary-general of the Garment Manufacturers Association in Cambodia GMAC is hopeful that the next review will include garments and footwear in the list of items.

In July 2017, duty-free benefits to Cambodian travel goods, including suitcases, backpacks, handbags and wallets was granted by the US Government. (DS)

Fibre2Fashion News Desk – India


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