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New version of Agoa sought
08 Jun '06
1 min read
African Growth and Opportunity Act (Agoa) was signed on May 18, 2000 to permit duty free import Kenyan textile and clothing; however, it seems virtually extinct, according to Trade and Industry Minister of Kenya, Mukhisa Kituyi.
Speaking to media, he requested the US Congress to make ammends in the law, next year.
After the implementation of Agoa, around 30,000 jobs were created in textile factories, but ending of global quota regime in January 2005 found almost one third of those jobs, lost.
Wary of poor future prospect, many foreign investors have pulled out their investments from country's textile industry while others have showed reluctance to invest any further.
In the first quarter of 2006, country's apparel sales to the US fell to Sh4.7 billion ($65.5 million) compared to Sh5.7 billion ($78.1 million) same period in 2005.
Speaking to media, he requested the US Congress to make ammends in the law, next year.
After the implementation of Agoa, around 30,000 jobs were created in textile factories, but ending of global quota regime in January 2005 found almost one third of those jobs, lost.
Wary of poor future prospect, many foreign investors have pulled out their investments from country's textile industry while others have showed reluctance to invest any further.
In the first quarter of 2006, country's apparel sales to the US fell to Sh4.7 billion ($65.5 million) compared to Sh5.7 billion ($78.1 million) same period in 2005.
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