Myanmar's exporters ought to be preparing for the country’s inclusion into the US Generalized System of Preferences (GSP) list in the near future, said Marideth Sandler, CEO of Sandler Trade LLC.
The
US imported some US$8 million in goods from Myanmar in the first half
of 2013, of which some $400,000 would potentially be GSP-eligible, she
said at a Union of Myanmar Federation of Chambers of Commerce and
Industry (UMFCCI) seminar last week.
The GSP program allows some exports from Least Developed Countries into the United States duty-free.
Myanmar
was one of the first nations to become eligible for US GSP benefits in
1976 but was suspended in 1989. However, reinstatement is currently
being considered, she said.
Daw Khine Khine Nwe, joint secretary
general of UMFCCI said Myanmar’s ascension into the program would
increase trade links with the world’s largest economy.
“If we
want to increase exports we need to study in advance [of receiving GSP
benefits] what products they would like to import and export,” she said.
source: Myanmar Times
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