07:43 26-10-2014
MAIN Russian
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
U.S. President intends to withdraw special trade privileges granted to Russia

Bishkek (AKIpress) - Obama3 U.S. President Barack Obama intends to withdraw special privileges granted to Russia because the country is too economically advanced to need preferential treatment reserved for less developed countries, The Hindu cited the White House.

Obama notified Congress that he intends to remove Russia from the Generalized System of Preferences (GSP) program as Moscow is “sufficiently advanced” to warrant any preferential treatment.

Once Russia’s eligibility is withdrawn, which would be effected via a presidential proclamation, U.S. imports of GSP-eligible goods from Russia will be subject to normal, non-preferential rates of duty, President Obama in his notification said.

The purpose of the program, which allowed $19.9 billion in imports to enter the U.S. duty-free in 2012, is to assist developing countries to use trade to boost their economic development, U.S. Trade Representatives (USTR) Mike Froman said.

“Russia has advanced beyond the level of economic development and competitiveness for GSP eligibility. As such, Russia should no longer qualify to receive GSP benefits,” he said in a statement.

“The President’s decision is consistent with the World Bank’s designation of Russia as a ‘high income country’ as well as actions by the European Union and Canada to remove Russia from similar programs,” Froman explained.


Twitterfacebookprint
10:20 08.05.2014
LATEST NEWS
15:54 Vice PM Dil, President of Turkmenistan discuss Atambayev's visit to Ashgabat15:48 Kyrgyzstan needs to procure 2.2 million tons of coal for autumn-winter period15:34 Tenge/som exchange rate rises by 8.93% since February tenge devaluation in Kazakhstan - National Bank15:07 Vietnam business tycoon Ha Van Tham arrested for 'fraud'15:03 Kyrgyzstan and Tajikistan conduct drills on elimination of consequences from emergency situations14:52 Nazarbayev to take part in 10th World Islamic Economic Forum in Dubai14:36 Talas unveils sculpture of writer Chingiz Aitmatov14:30 Atambayev congratulates employees of local governments on their professional day14:08 Chinese Vice FM attends reception marking 23rd anniversary of Independence of Tajikistan13:44 New York axe attack 'terrorist act by Muslim convert'13:21 Gazprom to supply 330 mln m3 of gas to Jambul TPP to reduce cost of electricity supply from Kazakhstan13:19 90 projects to be approved within Business Roadmap 2020 in Kazakhstan's Karaganda12:27 Rusnano representatives discuss issues of nanotechnology in Kyrgyzstan12:21 86.7% of grain produced in Kazakhstan so far - Ministry12:03 Egypt imposes state of emergency in Sinai after attacks11:15 Kyrgyzstan has become attractive for investors after reforms for favorable conditions for business - Deputy Economy Minister10:53 Kyrgyzstan signs a number of investment deals for doing business better10:21 Google's Alan Eustace beats Baumgartner's skydiving record10:18 Kazakh oil output to rise with Kashagan after 2020 - official09:59 Ebola outbreak: Cases pass 10,000, WHO reports
Astana
-4° C
Ashgabat
+7° C
Bishkek
+18° C
Dushanbe
+20° C
Tashkent
+20° C
exchange rates
 
71.18
56.25
9.20
1.35
228.80
180.87
29.57
4.32
6.33
4.99
0.82
0.12
3084.28
2367.40
385.74
61.13
3.60
2.85
0.47
0.07

© AKIpress News Agency - 2001-2014
Use of the AKIpress.com materials must be accompanied by a hyperlink to www.akipress.com
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75