The Commerce Minister of Thailand, Mr Phumtham Wechayachai, met with US Secretary of Commerce Gina Raimondo to strengthen trade relations and discuss renewing the Generalized System of Preferences (GSP) scheme for Thailand.
The Generalized System of Preferences (GSP) is a U.S. trade preference program established in 1974 to promote economic development by eliminating duties on thousands of products when imported from 119 designated beneficiary countries and territories.
The United States plans to reinstate the Generalised System of Preferences (GSP) scheme for Thailand, aiming to strengthen trade relations. This decision follows a strategic dialogue between Thailand’s Commerce Minister and US officials, where they discussed trade collaboration, the Indo-Pacific Economic Framework, and intellectual property enforcement.
- The US is ready to renew the Generalized System of…
