Jointly organized by Trade Department under the Ministry of Commerce and the USAID-Funded Private Sector Development Activity, an explanation ceremony on the American Generalized System of Preferences (GSP) programmes for business entrepreneurs was held in the hall of Mandalay Region Chamber of Commerce and Industry (MRFCCI) in Mandalay on Monday.
Present at the ceremony were the director-general of the Department of Trade and officials, the chairman and executive committee members of MRFCCI and entrepreneurs of its brother business associations, entrepreneurs of SMEs , officials of American Embassy and USAIDS and special guests.
At the ceremony, the director-general of the Department of Trade delivered an opening speech, and vice chairman of MRFCCI explained the process of UMFCCI and cooperation of MRFCCI with the ASEAN countries including neighbouring countries. Mr. Suzanne Yountchi, Economic Officer of the US Embassy, elaborated on the American Generalized System of Preferences (GSP) programmes. Mr. Erland Herfindahl, Deputy Assistant US Trade Representative for GSP and Michael Blaeley of USAIDS-Funded Private Sector Development gave a talk on “Generalized System of Preferences (GSP)”.
America suspended Myanmar’s GSP trade rights in 1989, but reinstated them on November 13, 2016.
US trade preference programs such as the Generalized System of Preferences (GSP) provide opportunities for many of the world’s poorest countries to use trade to grow their economies and climb out of poverty. — Thiha Ko Ko (Mandalay)