Ociped Updates Information On Gsp – A Preferential Tariff System For The Benefit Of Omani Exporters

In line with its objective to develop Omani products internationally, OCIPED has been pursuing with United Nations Conference on Trade and Development (UNCTAD)/ Geneva for the Generalized System of Preferences (GSP) extended by European Union (EU), USA and Japan. OCIPED has recently updated the GSP information and the same is available in Ociped website www.ociped.com under GSP benefits.

The Generalized System of Preferences (GSP), an initiative of the United Nations Conference on Trade and Development (UNCTAD), is operated by all major industrialized nations, known as donor countries, with the basic objectives of increasing the export (foreign exchange) earnings of developing and least developed beneficiary countries, promoting their industrialization and accelerating their rate of economic growth.

The GSP, which is essentially a preferential tariff system, provides advantages to developing countries by enabling qualifying products to enter markets of donor countries at reduced or totally eliminated rates of duty, and thus at more competitive prices.

Under the GSP, any Omani producer, whether involved in agriculture, industry, or handicraft production and able to comply fully with the relevant terms and conditions, is able to derive benefit from the GSP scheme of which Oman is a beneficiary. However such benefit is restricted to the product identified by the Donor Country to be eligible for GSP benefit.

Mr. Aiman Ambusaidi Director of Export Development stated that OCIPED has hosted the updated GSP data in OCIPED website and urged all Omani manufacturers to access the information.