FTUC awaiting word on US hearing
17:03 Wed Jan 16, 2013
Taken from/By: FBC News
Report by: Elenoa Turagaiviu
The Fiji Trades Union Congress is still awaiting word from US authorities on the outcome of the hearing on their attempt to get Fiji removed from the United States Generalized System of Preference trade list.
FTUC General Secretary Felix Anthony says it will take awhile before a decision is made.
That process actually takes time. They just had the US elections and all that so I think that’s delayed it a bit further. It takes a few months before they come out. So, we’ll just have to patiently wait.
The U.S. Generalized System of Preferences (GSP) Scheme is a program designed to promote economic growth in the developing world by providing preferential duty free entry for up to 5,000 products imported by the U.S.
If Fiji is suspended from trading with the US under the scheme, it will affect eight per cent of the population and 15,000 jobs could be lost among 39 companies that export products using this preference.
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