AMERICAN ARMENIANS CALL FOR ADOPTION OF LAW ON DUTY-FREE TREATMENT TO MANY PRODUCTS IMPORTED FROM ARMENIA

The Armenian National Committee of America sent a letter to the US Congress calling for the extension of the Generalized System of Preferences (GSP). This is a system that gives the opportunity for duty-free import from Armenia and over 140 other developing countries to the USA. It should be reminded, the GSP program, which has been in place for over twenty-five years, expired at the end of the last fiscal year, on September 30th, 2001. Over the past nine months, the Congress has failed to adopt legislation necessary to renew the program. As a result, imports from Armenia and other GSP-eligible nations have encountered an effective increase in duty costs, making them less competitive in the market place and harming both their Armenian producers and their American importers. The ANCA letter also states about concerns about the impact that the lapsing of GSP has had on the growing level of trade between the United States and Armenia.