U.S. Willing to Grant GSP to Vietnam: Deputy U.S. Trade Rep Marantis
The United States is ready to grant the Generalized System of Preference (GSP) for Vietnam, said Deputy US Trade Representative, Demetrios J. Marantis at a meeting with Vietnamese Deputy Prime Minister Hoang Trung Hai in Hanoi recently.
Mr. Marantis, however, did not mention the time for the approval.
If Vietnam gets the U.S.’s GSP approval, it will pave the way for Vietnam to export a wide range of products on the list of 3,600 commodities that enjoy low GSP tax rates, ranging from 0 per cent to 5 per cent, members of the meeting were told.
Vietnamese goods that are expected to receive GSP include aquatic and agricultural products, furniture and plastic articles. Meanwhile, garments, footwear, handbags, steel and leather products are excluded from GSP eligibility.
The U.S. is now Vietnam’s largest export market while the ASEAN country has been listed among the 30 largest exporters to the U.S. in 2007, according to a report by the U.S. International Trade Commission (ITC).
Vietnam is estimated to earn US$12.7 billion from exports to the U.S. this year, up 5.83 per cent from US$12 billion in 2008, the Ministry of Industry and Trade said. (Vietnamplus)
Vietnamese
