Boujikian at GSP conference hopeful US becomes major market for Lebanese exports

Boujikian at GSP conference hopeful US becomes major market for Lebanese exports

NNA - Lebanon’s Ministry of Industry and the Embassy of Lebanon in Washington organized a virtual conference on the Generalized System of Preferences (GSP), which exempts a large number of Lebanese exports to the United States from customs. The conference was organized in cooperation with the office of the United States Trade Representative (USTR). 

The aim of the conference is to increase commercial cooperation between Lebanon and the United States, as well as educate Lebanese industrialists to benefit from customs exemptions, in addition to reviewing the terms of the new GSP version that is under approval in Congress.

Minister of Industry, George Boujikian, delivered a speech in which he said that the Lebanese government was currently negotiating a recovery program with the IMF.

“There is a broad consensus that the economy must shift to a more productive one, with economic growth becoming export-led,” Boujikian said. 

“We are currently working to support small and medium industrial enterprises. This will be followed by steps aimed at facilitating export operations for micro and small enterprises,” he added. 

“Although Lebanon does not have a free trade agreement or a bilateral investment treaty with the United States, we’re hopeful it becomes a major potential market for Lebanese products,” Boujikian concluded. 

 

 

 

==========R.H.