BANGKOK, 9 Dec 2013 Canada has extended the period of Generalized System of Preferences (GSP) for Thailand, says the Commerce Minister. According to Commerce Minister Niwatthamrong Boonsongpaisan, the extension came during the World Trade Organization ministerial meeting in Indonesia, in which the Thai-Canadian free trade agreement(FTA) was discussed. . Both ministers have agreed to extend the period of the GSP while the FTA negotiation and feasibility studies are underway.
The current GSP is due to expire on January 1st, 2015. Mr. Niwatthamrong however did not specify the new time frame for the GSP.
Various export items such as metal ornament, shoes, plastic bags, and condiments will greatly benefit from the extension as the GSP relieves exporters of tariff burden.
