Home / Knowledge / News / Apparel/Garments / Apparel sector to focus on regional markets
Apparel sector to focus on regional markets
19
Jan '10
Uganda, despite having the advantage of exporting duty-free clothing to the biggest global market; USA under the Africa Growth Opportunity Act (AGOA) has not been able to exploit the potential due to the fragile nature of its textile and apparel sector.

The global economic meltdown beginning from the last quarter of 2008, added more challenges to an already tottering sector, which also has to face competition from nimble-footed countries like Bangladesh, China and Vietnam.

The Ugandan textile and clothing sector has now decided to turn its focus on 19 countries compromising the Common Markets of Eastern & Southern Africa (COMESA) and the East African Community (EAC), made up of five African countries.

At an AGOA forum meeting held last year, member countries were advised to explore domestic and surrounding country markets in order to dissipate the effects of the slowdown in the US market, an effect of the economic meltdown.

The US administration in order to provide a boost to the economies of the poor African countries of the African continent opened up an $11 trillion-market, enabling duty-free access for more than 4,500 products from 48 sub-Saharan African countries five years ago.

In order to exploit the full potential of the AGOA act, Uganda is now offering incentives including a 10-year corporate tax holiday, a 5-year value added tax exemption on all inputs and a revolving cotton buffer stock fund of $3 million annually.

Other than the above the government is also offering a subsidy of US 5 cents per KWH for three years and a loan of $5 million to attract foreign manufacturing textile firms in to Uganda and also generate employment opportunities for the local populace.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search