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Botswana launches response strategy for US AGOA scheme
20
Sep '17
Botswana’s ministry of investment trade and Industry (MITI) recently launched its response strategy for the US African Growth and Opportunity Act (AGOA) initiative with assistance from the USAID Southern African Trade and Investment Hub. The strategy offers a roadmap for developing export competitiveness, according to MITI minister Vincent Seretse.

AGOA offers Botswana and other African countries non-reciprocal concessions of more than 6,500 product lines duty free into the US market. USIAD will help local businesses with the utilisation of financial institutions, identify gaps and assist small and medium enterprises in building capacity.

The AGOA act was enacted into law in 2000 and has been renewed till 2025.

At the launch ceremony in Gaborone last week, Seretse said the strategy will help the government identify policy responses in targeted sectors to allow exporters in Botswana to increase exports under AGOA, cultivate a consultative mechanism between public and private players and attract investment in those sectors that can benefit from international trade, said a report in a Botswana newspaper.

The sectors identified include textiles and apparel, horticulture and agro-processing, handicrafts, leather and natural products. The strategy also encompasses an elaborate implementation matrix detailing specific sector based actions and activities to be undertaken for effective implementation of the Strategy.

To ease the business environment, a one-stop shop centre will be officially launched in October, Seretse added.

Meanwhile, the Botswana Investment and Trade Centre (BITC) has launched a ‘crusade’ to gain greater access to the UK and the European Union markets, another newspaper reported. Interested exporters have been invited to submit their updated company profiles and the BITC plans to target trade fairs and expos in the region to promote its companies and products. (DS)

Fibre2Fashion News Desk – India


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