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AGOA deadline forces Govt to perk up spinning mills
11 Feb '06
1 min read
The Government is taking major steps to revitalize cotton-spinning mills ahead of the 2007 deadline that bans the beneficiary nations from using imported raw materials for their exports to the US.
Current arrangement allows the countries to import textiles in order to produce and export stitched and finished products.
Uganda has been taking advantage of this pact for last four years.
The deadline was placed on African Growth and Opportunities Act (AGOA) by the US Government that offers tangible incentives for African countries to continue their efforts to open their economies and build free markets.
Current arrangement allows the countries to import textiles in order to produce and export stitched and finished products.
Uganda has been taking advantage of this pact for last four years.
The deadline was placed on African Growth and Opportunities Act (AGOA) by the US Government that offers tangible incentives for African countries to continue their efforts to open their economies and build free markets.
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