Home / Knowledge / News / Textiles / 'Extending AGOA till 2025 a priority' – US Official
'Extending AGOA till 2025 a priority' – US Official
02
Jun '11
Extending African Growth and Opportunity Act (AGOA) till 2025 and the third country multi-fibre provision till 2022 is one of the immediate priorities of Bureau of African Affairs of the United States (US) Department of State, according to Johnnie Carson, Assistant Secretary of State for African Affairs.

Talking about the US Africa Trade Policy at the Centre for Strategic and International Studies, Mr. Carson stated that the uncertainty prevailing over renewal of the law is discouraging potential investors to set up production units in AGOA eligible countries.

He added that the US administration under President Barack Obama seeks to extend the AGOA act through 2025.

In 2000, US's total exports to Africa stood at US$ 5.9 billion, while its imports from Africa amounted to US$ 23.4 billion. Since then, AGOA has significantly pushed both exports and imports, which grew to US$ 17.1 billion and US$ 64.3 billion respectively, in 2010, Carson said.

AGOA's rules of origin for fabric are one of the key incentives which draw potential investors to invest in textile manufacturing in AGOA eligible countries. This provision of AGOA permits the textile manufacturers in AGOA eligible countries to import necessary raw inputs from foreign countries, while retaining their preferential access to the US market, he explained.

Among other measures, he said, would be a measure to include South Africa to the Third Country Multi-Fibre provision. It is because South Africa is the only country, which despite of being an AGOA eligible country, does not qualify for this provision. Naturally, therefore, it is the most preferred country to gain benefit from this provision.

AGOA remains the main attraction of US's trade and investment policy with Africa and hence there is a need to extend the legislation, Carson said. He also added that in recent times, many inspiring economic news are coming in from Africa.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

PVH, WWF tie up to protect water bodies in Ethiopia, India

Apparel/Garments | On 23rd Apr 2018

PVH, WWF tie up to protect water bodies in Ethiopia, India

PVH Corp , parent company of brands like Tommy Hilfiger, Calvin...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

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

Nisha Chanda
Whistling Woods International School of Fashion

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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