Thailand Business News – Thailand to renegotiate GSP with US delegation at ASEAN Summit – Asean, Trade, United States

0
30

Apart from resolutions to be made by ASEAN leaders at the ASEAN Summit in November, the Thai government will seek this opportunity to hold a talk with the U.S. regarding the decision to revoke the Generalized System of Preferences (GSP) treatment previously given to 573 Thai products.

The Thai Commercial Affairs office in Washington D.C. has been tasked with holding talks with the Office of the United States Trade Representative (USTR) tomorrow, to establish common practice during the 6-month period of grace prior to the proposed GSP cancellation, while the ASEAN Summit in Bangkok as a possible opportunity to hold discussions regarding the GSP will be reviewed for appropriateness, as discussions with the USTR would be the most direct route to solving the issue.

On labour concerns and Washington’s request to allow the migrant workers union’s establishment in Thailand, the Commerce Minister said today the Ministry of Labor is the responsible agency required to handle this question, and will have to weigh up what will affect the country more between allowing the migrant workers union to be set up, or losing the tax exemption scheme.

GSP cut to cost less than US$1.3bn

The United States recently announced the cancellation of Generalized System of Preferences benefits, which used to allow 573 items exported from Thailand to the US to be exempt of import duties.

The Ministry of Commerce yesterday announced that the lack of this duty-free status will cost less than 1.3 billion US dollars, with some time available to negotiate for reconsideration by the U.S. after the ASEAN Summit in early November.

The Ministry of Commerce’s Inspector…

Thailand to renegotiate GSP with US delegation at ASEAN Summit – Asean, Trade, United States