US Congress considering customs preferences for Egyptian imports

The US Congress is considering the reactivation of a preference system which grants 4,300 Egyptian exports customs exemptions on entry to the American market, a US Administration official has said.

Kenneth E. Hyatt, Under-Secretary for International Trade, said US Congress is currently debating the reactivation of the Generalised System of Preferences (GSP) by the end of June.

Hyatt’s remarks came during a meeting on Monday in Cairo with Egyptian Trade and Industry Minister Mounir Fakhry Abdel Nour. Hyatt is in a visit to Egypt leading a delegation of eight American firms exploring investment opportunities.

Abdel Nour said the GSP, which has been inactive for more than a year, provides Egyptian exports with new channels to the US market.
Source: Reuters