Pak can make duty-free exports of 3,500 items under US GSP

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Lahore - Pakistani businessmen, under US GSP scheme, can make duty-free exports of 3,500 items including gemstones, precious metals, jewellery, leather sports gloves, mittens and mitts; certain non-cotton pillows, cushions and similar furnishings; certain athletic articles and equipment; miscellaneous iron and steel articles, jewellery, many agricultural products; chemicals, minerals, marble and carpet etc.

This was stated by Deputy Assistant US Trade Representative Bill Jackson while addressing a Webinar (Seminar through Website) on US GSP Scheme to the Lahore Chamber of Commerce and Industry on Thursday.

Bill Jackson said that Pakistan has a great opportunity to expand its exports to the United States substantially under the Generalised System of Preferences (GSP) programme but unfortunately a big number of businessmen are not very familiar with this scheme.

He said that many US importers are also unaware that a product may be eligible. As a result, they often pay duties on these products even when they don’t need to do so,” he emphasised.

He said US imports from Pakistan under the Generalized System of Preferences (GSP) programme, which offers duty-free market access to the United States, surged by 49 per cent in 2012, reaching $195 million that represents one of the largest increases among all major GSP beneficiary countries.
He also explained how Pakistani exporters can further take advantage of duty-free access to the United States currently available for over 3,500 Pakistani products under the GSP programme. USTR identified all GSP-eligible products and highlighted how Pakistani exporters who are actively looking for potential US buyers can use GSP to increase their exports to the United States.

Jackson noted that Pakistani exports of gemstones, precious metals and jewellery to the United States showed impressive growth of 300pc in 2012 - totaling $32.4 million - following a previous training session that raised awareness about available market access. Gemstones, precious metals and jewellery are among the many items eligible for duty-free treatment under the GSP programme.
Jackson advised Pakistani exporters of GSP-eligible products that there are several ways to make the most of the available tariff advantage. “First, consider using GSP as a marketing tool with US buyers.

He said that top GSP beneficiary countries are: India ($4.5b), Pakistan ($195m), Thailand ($3.7b), Brazil ($2.3b), Tunisia ($149m), Sri Lanka ($158m), Indonesia ($2.2b) Bolivia ($128m) South Africa ($1.3b) Georgia ($124m), Philippines ($1.2b) Kazakhstan ($111m).Turkey ($1.1b) Angola ($632m) Ecuador ($107m), Venezuela ($99m), Russia ($544m), Cote d`Ivoire ($96m), Argentina ($233m) and Congo ($94 m).
Speaking on the occasion, the LCCI President Farooq Iftikhar said that the Lahore Chamber of Commerce & Industry will create awareness about GSP Scheme amongst the business community so that they could avail full advantage.

He urged the Pakistani exporters to make their all efforts to get benefit from duty-free-access to the US Market under GSP scheme to earn much needed foreign exchange that would certainly help in strengthening the dwindling economy.

 

Courtesy: The Nation


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