Legislation by Rep. Jim McDermott (D-WA) to renew and expand trade preference benefits aimed at promoting economic development in the world's poorest countries has been praised by the Retail Industry Leaders Association (RILA).
"We applaud Congressman McDermott for pursuing this important legislation," said Stephanie Lester, vice president for international trade. "RILA is committed to promoting flexible and meaningful preference programs that assist in the development of the world's poorest countries and enhance the availability of a wide range of high-quality products for American families."
The bill, formally known as the "New Partnership for Trade Development Act of 2009" (H.R. 4101), would expand products eligible for duty-free treatment to include more products that are made by more of the world's least-developed countries, such as textiles and apparel produced in Cambodia and Bangladesh. The bill would also simplify the rule of origin for preference programs and extend the Generalized System of Preferences program until 2019.
