U.S. Regulations
A proclamation was signed granting Generalized System of Preferences (GSP) trade benefits to Serbia. GSP goes beyond Normal Trade Relations, or Most Favored Nation, a status that the United States restored to Serbia in December 2003, as a support to the economic progress of the country.
Currently, the GSP program provides preferential duty-free entry for more than 4,650 products, including most manufactured and intermediate goods, selected agricultural and primary industrial products. Certain sensitive goods are not eligible for duty-free entry under GSP, which generally includes most textile products, leather goods and footwear. The list of eligible goods is reviewed and adjusted twice per year with input from U.S. industries.
Several Serbian companies already exporting to the United States will immediately benefit from this new status through duty-free entry of their goods to the U.S., making them more price competitive on the U.S. market.
