Ethiopia Earns $24.4 mln from AGOA Benefit

Ethiopia earned nearly 24.4 million dollars relying on the US government’s African Growth and Opportunity Act (AGOA).

The revenue was obtained during nine months period from January to September 2013, data obtained from the Ministry of Trade (MoT) reveals. Exports fromEthiopiathrough AGOA are mainly apparel and leather sectors.

With newly added export items such as root crops, factory-produced malt and various types of flours, the country’s revenue is showing a rise.

According to the Ministry, the country’s export to theUShas been growing by about 80pc over the last 12 years since the introduction of AGOA.

AGOA, which was first signed into law by formerUSpresident Bill Clinton in 2000, offers incentives for eligible countries in Sub-Saharan Africa to export their goods to theUSmarkets duty-free. Currently, there are 39 AGOA-eligible African countries.

Published on December 22, 2013 [ Vol 14 ,No 712]



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