US Congress approved Omnibus Trade Bill stipulating tariff preferences for certain Armenian products. Known as the Generalized System of Preferences (GSP), it provides duty-free entry into the United States for such products as Armenian-made jewelry. With the extension of the preferential treatment for Armenian-made jewelry through 2006, easier access to American markets will stimulate Armenian industry and exports as well as it will increase the Armenia-US trade volume. Armenia was first included in the GSP in 1994, in 2001 the validity of the GSP was stopped.
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