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Poor countries urge US to limit trade preferences
26 Mar '07
1 min read
Plan for granting trade opportunities to poverty-stricken countries has raised disputes among American industries and overseas ones. Textile manufacturers have joined poor African nations in requesting American officials to limit trade preferences.
US Trade Representative Office has released documents stating opinion of industrial and advocacy groups as to how much preference should be granted by US to these countries.
These views are based on talks held during 2005, when developed countries decided to abolish quotas and import levies in minimum 97 percent of tariff lines for least-developed nations.
These talks, resulting in quota-free and duty-free access, commenced in 2001 to eliminate poverty through trade.
Least developed countries could manage to achieve a mere 0.7 percent share of global goods export in 2004. A new world trade deal may bring relief to quite an extent for them.
US Trade Representative Office has released documents stating opinion of industrial and advocacy groups as to how much preference should be granted by US to these countries.
These views are based on talks held during 2005, when developed countries decided to abolish quotas and import levies in minimum 97 percent of tariff lines for least-developed nations.
These talks, resulting in quota-free and duty-free access, commenced in 2001 to eliminate poverty through trade.
Least developed countries could manage to achieve a mere 0.7 percent share of global goods export in 2004. A new world trade deal may bring relief to quite an extent for them.
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