Home / Knowledge / News / Textiles / AGOA loss cost Swaziland 600 mn emalangeni: FSE&CC
AGOA loss cost Swaziland 600 mn emalangeni: FSE&CC
02
Feb '18
Losing access to the US African Growth Opportunity Act (AGOA) in January 2015 cost Swaziland nearly 660 million emalangeni (E) and resulted in massive unemployment and a 98 per cent decline in trade volume of apparel and textiles, according to an industry chamber. AGOA benefits for Swaziland, withdrawn due to human rights violations, were restored this year.

Moreover, AGOA had been severely underutilised in the past and it had been incorrectly perceived as a benefit only for the textile industry, according to Bonisiwe Ntando, CEO of the Federation of Swaziland Employers and Chamber of Commerce (FSE&CC).

Despite this underutilisation, textile and apparel imports by the United States from the country were worth nearly E 661.5 million ($55.125 million) in 2014 and declined to around E 6.744 million ($562,000) by June 2017 because of the loss of AGOA eligibility, according to a report in a Swaziland newspaper.

Ntando suggested reinitiating the textile and apparel trade at the soonest and exploring opportunities in other product lines like timber, sugar and minerals.

Urging businesses not to treat the AGOA as a magic wand, she said each potential exporter has to find links in the US market and identify the most reliable and cheapest transport means.

Following countries like Mauritius, Tanzania, Lesotho, Madagascar, Kenya, Ghana, Ethiopia and Botswana, which have developed national AGOA strategies, Swaziland should also develop a similar strategy working with the US Embassy and the USAID Southern Africa Trade and Investment Hub, she added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Hardik Sanghvi

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

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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