The administration of our country opens wide gateways for developing countries in the world. There is no customs duty in the US for the import of 3.5 thousand types of goods. This is the privilege of the GSP system. Only about $ 19 billion worth goods were supplied to the United States last year. Of course, the state budget does not accept a customs duty of $ 1 billion.

At the Armenian-American Conference in Yerevan today, US Trade Representative Ed Greecer mentioned the GSP's overall goal of a Generalized Privilege System. "GSP aims to help developing countries to diversify exports and protect intellectual property rights."

Armenia also uses the US GSP system. More than half of US exporters from Armenia use the GSP system. This is due to the fact that this year the volume of trade between Armenia and the United States has increased by almost 40% this year mainly due to the growth of export rates from Armenia.

"At present, 60% of Armenia's exports are under GSP. It is about the Armenian origin of recycled food, aluminum foil and jewelry. However, I believe that Armenian factories can benefit more from GSP, "said US Ambassador to Armenia Richard Mills.

Ambassador Mills noted that his priority is to strengthen the Armenian-American economic and trade ties. Investors coming from the United States may be exempted from tax in the United States and taxed only in Armenia.

In response to a question of journalists when the new agreement excluding double taxation could be concluded, Mills replied that it would be concluded when it is really necessary.

"The Armenian government has repeatedly raised the issue of double taxation. We have noted that signing of the agreement will be considered if it is really necessary to promote trade. The double taxation agreement, which is currently operating and was made in the 70s, is fully in line with our trade relations. We expect the government to make new proposals, in which the need for a new agreement will be established, "Miles said.

The material is copyrighted and protected by law