GSP Facility For SL is Yet to be Approved by US Congress
Dec 29, 2017Latest News, Local NewsComments Off on GSP Facility For SL is Yet to be Approved by US Congress 3576 Views
According to a statement issued by the US embassy, US is proud to serve as the top export market for Sri Lanka. According to the Global Trade Atlas, in 2016, the US imported $2.8 billion of Sri Lankan goods.
The US Generalized System of Preferences (GSP) program for Sri Lanka and other beneficiary countries would expire on December 31, 2017, as the US Congress did not re-authorize GSP before adjourning for the year, the US Embassy said today.
Hence, all Srilankan exports to US will be subject to non-preferential duties beginning January 1, 2018
In a statement, the embassy said the “The US Customs and Border Protection’s web site has a page dedicated to GSP program information with detailed information on importation procedures during a program lapse,” the statement said.