US Chamber wants GSP benefits for India to stay
The US Chamber asks the Bush administration to continue to offer India trade benefits under its GSP.india Updated: Sep 08, 2006 11:22 IST
The US Chamber and its partners, including the US-India Business Council, have asked the Bush administration to continue to offer India and Brazil trade benefits under its Generalised System of Preferences (GSP).
They made the plea in a letter to the US Trade Representative (USTR), which is currently looking at a proposal to limit, suspend or withdraw trade preferences to India and a dozen other countries as part of a major GSP review ordered after the collapse of world trade talks.
"GSP is an important tool facilitating trade, one that benefits companies and consumers, and which strengthens the relationship between the US and our partners," said US Chamber Vice President John Murphy in the letter on behalf of the business associations.
"By offering a helping hand to partners in the developing world, GSP allows the US to develop diverse low-cost sources of inputs for our manufacturing base while strengthening protection of US intellectual property," he said.
GSP also creates a positive economic interdependence based on mutual interest that improves the overall environment for US exporters and investors in some of the fastest growing countries in the developing world.
For these reasons, our organisations strongly urge the GSP subcommittee to support the continuation of the GSP programme and voice our support for the continued inclusion of Brazil and India in the programme, the letter said.