USTR to Consider Ending Suspension of Argentina's GSP Benefits
The Office of the U.S. Trade Representative will conduct a public review to determine whether to add Argentina as a Generalized System of Preferences (GSP) beneficiary developing country, USTR announced Nov. 7 as officials from the countries met in Buenos Aires for the inaugural meeting of the U.S.-Argentina Council on Trade and Investment (here). Argentine President Mauricio Macri’s administration requested the U.S. consider re-designating the country as eligible for GSP benefits, after the U.S. suspended Argentina from the program in 2012 over a cited failure to pay arbitral awards to the U.S. (see 12032738), USTR said. During the meeting, U.S. Trade Representative Michael Froman recognized Argentina’s settlement of outstanding arbitral awards with two U.S. companies in late 2013, according to USTR. The meeting was conducted pursuant to the U.S.-Argentina Trade and Investment Framework Agreement signed in March.
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U.S. and Argentine officials discussed their willingness to cooperate on multilateral issues, including trade facilitation, reducing global excess steel capacity, World Trade Organization dispute settlement, and future collaboration on agricultural biotechnology and innovation, USTR said. The two nations will establish an Innovation and Creativity Forum for Economic Development to discuss issues including geographical indications, intellectual property protections for small and medium-sized businesses, and industrial designs, USTR said. The first meeting of the forum will take place in early December in Buenos Aires. “I am particularly pleased by Argentina’s support in launching a plurilateral initiative in the WTO to prohibit harmful fisheries subsidies, and its commitment to discuss intellectual property issues that are essential to the success of the United States’ and Argentina’s innovation economies,” Froman said in a statement, referencing a September initiative (see 1609160018). The council’s next meeting is slated for sometime in 2017 in Washington, USTR said.