Trade Minister calls for renewal of US Generalised System of Preferences
06/12/2017 18:35, TUNIS/Tunisia

(TAP) - Trade Minister Omar El Bahi reiterated Tunisia's call to renew the U.S. Generalised System of Preferences (GSP) which is coming to an end soon (end of 2017) as he co-chaired on Wednesday, with US Ambassador in Tunis Daniel H. Rubinstein, a debate organised by the American Chamber of Commerce in Tunisia (AMCHAM).

This programme, which aims to promote economic growth in developing countries, has helped strengthen the competitiveness of Tunisian exporters by exempting 1,400 products from customs duties when they enter the US market.

Omar El Bahi said at the meeting that Tunisia is working to diversify its economic partners and boost cooperation with its traditional partners, including the United States.

 He recalled that the volume of trade between the two countries remains below estimates, not exceeding 2,000 million dinars (MD) in 2016 and 1,900 MD in 2015.

The minister also recalled that the trade balance with the United States is in deficit, since the coverage of exports by imports is around 35%.

Tunisia’s exports to the US are mainly composed of agricultural products (olive oil, dates ...) and textiles, while Tunisia imports, in particular, food products, including wheat, vegetable oils (soy and corn ), petroleum derivatives and mechanical and electrical equipment.

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