;
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 AGOA benefits for Swaziland, withdrawn due to human rights violations, were restored this year.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

Japanese capital pouring into textile, garments in Vietnam

Apparel/Garments | On 12th Dec 2018

Japanese capital pouring into textile, garments in Vietnam

Several Japanese companies, including Itochu and Sakai Amiori, are...

Chanel bans fur, exotic animal skins in its products

Fashion | On 12th Dec 2018

Chanel bans fur, exotic animal skins in its products

French fashion retailer Chanel recently announced it will stop using...

Apparel, footwear brands failing to tackle exploitation

Apparel/Garments | On 12th Dec 2018

Apparel, footwear brands failing to tackle exploitation

Apparel and footwear firms are failing to tackle exploitation of...

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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


December 2018

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

news category


Related Categories:

Advanced Search