Home / Knowledge / News / Apparel/Garments / Namibia seeks to take advantage of AGOA
Namibia seeks to take advantage of AGOA
06
Jul '15
The Namibian government is working on a strategy to take maximum advantage of the African Growth and Opportunity Act (AGOA) that has been extended till 2025, the Namibian Press Agency has reported. The original Act expires on September 30, 2015.

“We are now developing an engagement strategy on how best we can benefit from AGOA as well as ready ourselves for post- 2025 for the new World Trade Agreement compatible arrangement,” director of international trade in the ministry of industrialisation, trade and small and medium enterprise development Benjamin Katjipuka told the agency.

He said Namibia does not currently trade with the US under AGOA, but he commended Washington’s strong commitment to enhancing the Africa-US economic partnership.

AGOA promotes duty-free market access to the US, with the purpose to assist the economies of sub-Saharan Africa and to improve economic relations between the US and the region. It is aimed at moving Africans from poverty to prosperity by increasing their economic opportunities.

“Although we do not benefit much from AGOA, Namibia welcomes the new version of AGOA. We have been calling for a re-authorisation of 15 years, but still, the 10 years re-authorisation is a welcome development,” said Katjipuka.

In Namibia, he said, AGOA's benefits have not been fully utilised due to a number of challenges, in particular the closure of the Ramatex garment and textile factory in 2005, which left 600 people unemployed. Ramatex turned cotton into textile to export it to the US under AGOA.

“Since the closure of the Ramatex garment and textile factory there has not been any other significant industry that took up the US market under AGOA,” he said.

He said Namibia is currently trading with the US, but under the Most Favoured Nations (MFN) agreement.

The MFN agreement is a method of establishing equal trading opportunities amongst states.

It is a status or level of treatment accorded by one state to another in international trade. The country that is the recipient of this treatment, must, nominally, receive equal trade advantages as the 'most favoured nation' by the country granting such treatment.

Namibia's exports to the US in 2010 were valued at $ .15 billion and $ .23 billion in 2011; while in 2012 it decreased to $ .12 billion. This was followed by export volumes of $ .16 billion.

Imports from the US to Namibia were valued at $40 million in 2010, $37 million in 2011 and $30 million in 2012. In 2013, imports went up to $ .10 billion.

Namibian exports to the US mainly comprise uranium ore and concentrate; non-industrial diamonds; as well as refined copper and fish products.

“None of these products is eligible under AGOA. We trade in those products with the US, but under MFN,” Katjipuka said. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X