Exporters urged to grasp GSP privileges as US economy recovers

Thai producers should increase export under the Generalised System of Preferences (GSP) to the United States as this would put them in a good position to expand shipments to that market as its economy recovers, a trade official advised.

Foreign Trade Department director-general Pranee Siriphand said that after slowing for a couple years, the US economy was recovering. Thai companies should grasp the opportunity to increase their exports by accepting GSP privileges.

Currently, the US offers Thailand export privileges for more than 3,400 items. However, exporters have limited their utilisation of the GSP to avoid complicated application procedures.

Pranee said it was not difficult to export under the GSP. After providing the necessary documents, exporters can enjoy cheaper tariffs under the system. Thai products that should be benefiting more from the tariff reductions include car parts, processed agricultural products, jewellery, electronics, organic foods, and recycled materials.

To increase exporters' understanding of the system, the department will hold a seminar on "The US GSP: Unleashing GSP Opportunities for Your Exports" on February 5 at Miracle Grand Convention Hotel in Don Muang and on February 7 at Montien Hotel Pattaya.

Marideth Sandler, former GSP programme director and currently chief executive officer and international trade adviser of Sandler Trade, will be a special speaker for the event.

The Thai commercial attache to Washington and a representative from American Commercial Transport, a US customs broker, will also share their knowledge at the seminar.