Us Travel Goods Tax Exemption For Kampuchea

Industrial experts in Kampuchea say that the first tariff concessions that Kampuchea's made travel products are allowed to enter the United States for the first time will be foreseen.

Exports will increase by 400% in the next few years.

The Generalised System of Preferences (GSP) amendment, which will take effect in July 1st (2016) in July 1st, will remove the import of Kampuchea made products such as carrying travel boxes, travelling bags, pocketbooks, Pi Jiazi and so on.

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The previous tariff rate of these products is 4.5-20% and will be tax-free into the US in the future.

Cambodia

Vann Sou Ieng, chairman of GMAC of the manufacturers association, said that the travel products under the GSP system would make Kampuchea factory more competitive and would encourage about $6 billion 300 million of the new investment in the garment industry, which would employ 700000 employees.

The new tariff preferences will make Kampuchea more competitive and attract more investors to invest in Cambodia, the canal said.

The canal emphasizes that Kampuchea is only one of the two countries in the Asia Pacific region that are included in the GSP tariff free country, and the other is Nepal, which is not the main producer of such products.

The canal says Kampuchea has 15 manufacturers of travel products and exported about 48 million 300 thousand US dollars to the United States in 2015.

It is estimated that exports can reach US $200 million after Exemption, which is estimated to create about 100000 jobs.

The canal also says that if it is ready and ready for marketing, it can estimate up to $500 million.

The United States Department of the world's largest travel goods market, last year imported more than 10 billion dollars of travel products.

The largest supplier in China is US $6 billion 400 million, while the two major suppliers of Vietnam and Philippines in the ASEAN countries are US $944 million and US $224 million respectively.