U.S. to Consider Reinstating Argentina to GSP Eligibility
During the inaugural meeting of the U.S.-Argentina Council on Trade and Investment held Nov. 7 under the bilateral trade and investment framework agreement, U.S. Trade Representative Mike Froman announced that USTR will initiate a public review process to determine whether Argentina once again meets the eligibility criteria under the Generalized System of Preferences. The U.S. suspended Argentina from GSP in 2012 for failing to enforce arbitral awards with two U.S. companies, but Argentina settled those awards in late 2013 and has therefore asked the U.S. to consider reinstating its GSP eligibility.
Also at the meeting the two sides:
- renewed their mutual commitment to cooperate on a range of multilateral issues, including World Trade Organization dispute settlement, trade facilitation, and reducing global excess steel capacity;
- discussed future collaboration on agricultural biotechnology;
- agreed to establish an Innovation and Creativity Forum for Economic Development to discuss issues of mutual interest, including geographical indications, industrial designs, and the importance of intellectual property protections for small and medium-sized enterprises, and to hold the first meeting of this forum in early December in Buenos Aires; and
- acknowledged positive engagement in the areas of regulatory coherence and trade facilitation under the U.S.-Argentina Commercial Dialogue held in October.