GSP status granted to promote Iraq trade
President Bush has granted duty-free status on 3,500 export products from Iraq to the United States under the Generalized System of Preferences (GSP) program.
“This GSP designation marks an important step in Iraq’s return to the world trading system,” said the White House press secretary in a statement Wednesday.
GSP is a program that grants duty-free treatment on specific products imported from more than 140 approved developing countries. The program was reauthorized under the 2002 Trade Act.