President Bush has designated Iraq a beneficiary of the Generalized System of Preferences program, which will give Iraq the ability to take advantage of duty-free access to U.S. markets on about 3,500 export products.

"This GSP designation marks an important step in Iraq's return to the world trading system. Increased opportunities for trade will help Iraq build an economy that can offer its citizens a more prosperous future," according to a statement from the White House September 8.

THE WHITE HOUSE
Office of the Press Secretary
(Columbia, Missouri)
September 8, 2004

STATEMENT BY THE PRESS SECRETARY

President Bush today signed a proclamation designating Iraq as a beneficiary developing country under the Generalized System of Preferences (GSP) program. As a GSP beneficiary country, Iraq will be able to take advantage of duty-free tariff treatment into the United States on approximately 3,500 products.

This GSP designation marks an important step in Iraq's return to the world trading system. Increased opportunities for trade will help Iraq build an economy that can offer its citizens a more prosperous future.

GSP is a program that grants duty-free treatment to specified products that are imported from more than 140 designated developing countries and territories. GSP was reauthorized when President Bush signed the Trade Act of 2002 on August 6, 2002. This program underscores the Administration's commitment to providing trade opportunities to developing countries as a way to encourage broad-based economic development.