Page:United States Statutes at Large Volume 123.djvu/3770

 123STA T . 3 750PROCL A M AT I O N846 7 —DE C. 23 , 200 9Proclam a ti o n8467 o fDe cem b er 23, 2 0 0 9ToM o difyDut y -Fre e Tre a t m e n t U nder t h e G enera l i z ed S y s tem of P referen c es , and for O ther Pur p oses BythePr e sid e n t of the U nited S t a tes of Am eri c a A Proc l amation 1.Sections50 1 ( 1 )a n d ( 4 )o f t h e Tr ade A ctof1 97 4, asa m ended (the ‘ ‘1974 Act ’ ’) (19 U .S. C . 2 4 6 1(1) and (4)), p ro v ide that, in affordin g d u t y- free treatment under the G enera l i z ed System of P references (GSP), the President shall have due regard for, among other factors, the effect such action w ill have on furthering the economic development of a b eneficiary developing country and the e x tent of the beneficiary devel- oping country’s competitiveness with respect to eligible articles. Sec- tion 502(c)(2) of the 1974 Act (19 U.S.C. 2462(c)(2)) provides that, in determining whether to designate any country as a beneficiary devel- oping country for purposes of the GSP, the President shall ta k e into ac- count various factors, including the country’s level of economic devel- opment, the country’s per capita gross national product, the living standards of its inhabitants, and any other economic factors he deems appropriate. Section 502(d) of the 1974 Act (19 U.S.C. 2462(d)) author- izes the President to withdraw, suspend, or limit the application of duty-free treatment under the GSP with respect to any country after considering the factors set forth in sections 501 and 502(c) of the 1974 Act. Section 502(f)(2) of the 1974 Act (19 U.S.C. 2462(f)(2)) re q uires the President to notify the Congress and the affected country, at least 60 days before termination, of the President’s intention to terminate the affected country’s designation as a beneficiary developing country for purposes of the GSP. 2. Section 502(e) of the 1974 Act (19 U.S.C. 2462(e)) provides that the President shall terminate the designation of a country as a beneficiary developing country if the President determines that such country has become a ‘‘high income’’ country as defined by the official statistics of the I nternational B ank for R econstruction and D evelopment. Termi- nation is effective on J anuary 1 of the second year following the year in which such determination is made. 3 . Pursuant to section 502(e) of the 1974 Act, I have determined that Croatia has become a ‘‘high income’’ country, and I am terminating the designation of that country as a beneficiary developing country for pur- poses of the GSP, effective January 1, 2011. 4. Pursuant to section 502(e) of the 1974 Act, I have determined that E quatorial Guinea has become a ‘‘high income’’ country, and I am ter- minating the designation of that country as a beneficiary developing country for purposes of the GSP, effective January 1, 2011. 5. Section 502(a)(2) (19 U.S.C. 2462(a)(2)) of the 1974 Act provides that the President may designate any beneficiary developing country as a least-developed beneficiary developing country for purposes of the GSP, based on the considerations in sections 501 and 502(c) of the 1974 Act (19 U.S.C. 2461 and 19 U.S.C. 2462(c)). 6. Pursuant to section 502(d)(1) of the 1974 Act, and having considered the factors set forth in sections 501 and 502(c) of the 1974 Act, I have