USTR Considers Improving GSP Access for the Middle East & N. Africa
On September 15, 2011, Deputy U.S. Trade Representative Sapiro gave remarks on the Administration’s May 2011 call for a Trade and Investment Partnership Initiative between the U.S. and the Middle East and North African (MENA) region. Sapiro stated that the U.S. envisions beginning a dialog, focusing initially on Egypt and Tunisia, to identify the most promising avenues for increasing trade and investment with, and within, the region.
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Exploring Improved Access to GSP and Other Preference Programs
Among other ideas are improving access to and utilization of preference programs, such as the Generalized System of Preferences (GSP), enhancing trade facilitation, and creating a favorable investment and services environment. Sapiro added that where possible, the U.S. would be coordinating with the European Union (EU) on these efforts.
Good Timing for Trade and Investment Efforts Given the Potential for Trade
With a growing population of over 400 million and in light of political and economic aspirations that created the Arab Spring, the Deputy USTR says the MENA region is ripe for such an initiative, noting that it is currently the fifth largest destination for U.S. exports.
(The Deputy USTR notes that the U.S. already has free trade agreements (FTAs) with Bahrain, Israel, Jordan, Morocco and Oman, Trade and Investment Framework Agreements (TIFAs) with 11 other MENA countries, as well as bilateral investment treaties with several more.)
(See ITT's Online Archives or 09/06/11 news, 11090635, for BP summary of USTR notice seeking comments by October 15, 2011 regarding the development of this MENA Trade and Investment Partnership Initiative.)