The United States has approved two petitions from Egypt to add products to the list of eligible items under the Generalized System of Preferences (GSP), according to a statement from the US embassy.
US Ambassador to Egypt Margaret Scobey said Wednesday that for the second year in a row, President Barack Obama has approved only two petitions from 131 countries that benefit from duty-free exports under GSP, both of which were submitted by Egypt.
Starting July 1, Egyptian exports of two different frozen vegetable products have been given duty-free treatment by the US, the statement read.
GSP helps developing countries promote their exports, and accounts for a large share of their exports. “Egypt’s current exports to the US under GSP help benefit women and the rural poor, providing opportunities for Egyptians in developing areas in Upper Egypt to find export markets for manufactured goods, food and beverage products, handicrafts, and many other items,” the embassy statement said.
The US and Egypt are working to increase bilateral trade as part of the US-Egypt Strategic Economic Partnership, and 40 percent of Egypt’s exports to the US are given duty-free treatment under US trade preference programs including GSP and the Qualifying Industrial Zone (QIZ) program.
