Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News The United States signs amendments to the African Growth and Opportunity Act (AGOA)

The United States signs amendments to the African Growth and Opportunity Act (AGOA)



On June 29, US President Obama signed an amendment to the African Growth and Opportunity Act (AGOA, African Growth Opportunity Act), extending the validity of the original act for 10 years to September 2025. Th…

On June 29, US President Obama signed an amendment to the African Growth and Opportunity Act (AGOA, African Growth Opportunity Act), extending the validity of the original act for 10 years to September 2025. The bill was passed in 2000, exempting a basket of products from sub-Saharan African countries from entering the U.S. market from tariffs and quota restrictions. Officials from the U.S. Department of Commerce said that “the amendments to the African Growth and Opportunity Act are the first step in U.S.-Africa trade in the next 10 years.” “The cornerstone of relations” will help encourage African countries to improve their governance and implement policies conducive to growth and development, especially to improve social rights and human rights.

At present, according to the content of the bill, 39 countries in sub-Saharan Africa enjoy corresponding preferential market access policies. Botswana is one of the beneficiary countries, including agricultural products, machinery products, metal mines, textiles, chemical products, and forestry products. It enjoys preferential market access policies under eight categories: , transportation and power products. However, due to the low level of industrialization, only some of Bo’s textiles are currently exported to the United States using the preferential policies of the Act.

Muwaba, Chairman of Botswana Exporters and Manufactures Association (BEMA), commented: The extension of the African Growth and Opportunity Act has brought huge opportunities to Botswana’s export and manufacturing enterprises, and the Botswana government must attach great importance to this important opportunity. , promptly introduce relevant incentive policies, and encourage Botswana enterprises to make full use of the preferential policies of the bill through land, labor, taxation and other incentives to expand exports to the United States to earn foreign exchange while creating more jobs. Muwaba pointed out that from 2008 to 2011, Botswana’s exports to the United States were stable at around US$15 million under the Act, and fell to US$10 million in 2012, and have continued to shrink since then; while Lesotho, which is also located in Southern Africa, is not as good as Botswana in all economic indicators. , but in 2008, the bill was passed to achieve approximately US$350 million in exports to the United States and maintain long-term stability. The Bo government must reflect deeply and introduce targeted incentive policies in a timely manner in order to benefit from the bill.

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