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Business needs to extract more from AGOA

Business needs to extract more from AGOA

Trade and Industry Deputy Minister Lindiwe Hendricks believes there is still significant scope for South African and other African companies to more fully exploit the benefits of the African Growth and Opportunities Act (Agoa), particularly now that President George W Bush has extended the duration of the legislation.Hendricks was speaking on her return from a trip to the US where she had attended the Corporate Council on Africa’s Fourth US-Africa business summit held in Washington, DC, from June 24 to 27.She was accompanied by a...

03 July 2003
SA Govt Plans to Draw US Investors to Local Textile Industry

SA Govt Plans to Draw US Investors to Local Textile Industry

SA's Government says it plans to build on efforts made at a US-Africa business summit in Washington last week to attract US investors to the domestic textile and clothing sector.Contrary to government's expectations, US companies had not invested in SA or its customs union partners as a result of the Africa Growth and Opportunities Act (Agoa), said Trade and Industry Deputy Minister Lindiwe Hendricks at a media briefing on the summit yesterday.The initiative had attracted investments from numerous other countries, including Germany, Malaysia...

03 July 2003
Ethiopian textile, garment and leather manufacturers to visit USA

Ethiopian textile, garment and leather manufacturers to visit USA

The Ethio-American Trade and Investment Council (EATIC) with the support of the United States Trade and Development Agency (USTDA) and the Embassy of Ethiopia in Washington, DC, is organizing manufacturing orientation visit (OV) to the USA for Ethiopian textile, garment and leather manufacturers. The purpose of the visit, which will take place from next August 11 to August 24, would be to introduce Ethiopian textile garment and leather manufacturers to the business practices of the same industries in the United States in order to increase...

02 July 2003
Key U.S. Senator Supports AGOA Extension

Key U.S. Senator Supports AGOA Extension

Senate Foreign Relations Committee Chairman Richard Lugar, made the following statement at a hearing of his committee on the Africa Growth and Opportunity Act. It is my pleasure to welcome our witnesses and distinguished guests to our hearing on the African Growth and Opportunity Act. We are privileged to have on our first panel Flori Liser, the Assistant U.S. Trade Representative for Africa, and Walter Kansteiner, the Assistant Secretary of State for Africa. Following their testimony, we will hear from a second panel composed of...

25 June 2003
US Press Release on AGOA

US Press Release on AGOA

Walter H. Kansteiner, Assistant Secretary of State for African Affairs Testimony Before Senate Foreign Relations Committee Washington, DCMr. Chairman, Ranking Member Biden and members of the Committee, thank you for inviting me to testify before the Committee today on the African Growth and Opportunity Act (AGOA). It is a particular pleasure to testify on AGOA before this Committee because it allows me to again congratulate the Chairman and other members of this Committee who were instrumental in enacting AGOA into law in 2000, and in the...

25 June 2003
Agoa III Action Committee Formed to Lobby for Extension of Trade Act

Agoa III Action Committee Formed to Lobby for Extension of Trade Act

Under the leadership of former Assistant US Trade Representative for Africa, Rosa Whitaker, the Whitaker Group has mobilized an action committee of businesses, NGOs and faith-based groups to draft, promote and see enacted and implemented critically needed enhancements to the African Growth and Opportunity Act.These enhancements, AGOA III for short, will further strengthen the competitive position of U.S. business and investment in Africa. They will add momentum to the continent's growth and development by spurring continued reform and...

24 June 2003
Agoa III

Agoa III

Under the leadership of former Assistant US Trade Representative for Africa, Rosa Whitaker, the Whitaker Group has mobilized an action committee of businesses, NGOs and faith-based groups to draft, promote and see enacted and implemented critically needed enhancements to the African Growth and Opportunity Act.These enhancements, AGOA III for short, will further strengthen the competitive position of U.S. business and investment in Africa. They will add momentum to the continent's growth and development by spurring continued reform and...

24 June 2003
Commerce Ministry Commissions American Consultant to Work On AGOA

Commerce Ministry Commissions American Consultant to Work On AGOA

To ensure that export procedure contained in African Growth and Opportunity Acts are simplified for manufacturers, the Federal Ministry of Commerce has commissioned a United States-based export consultant - Manchester Trade Limited, to develop strategic export plan.Vanguard gathered that the approval which was given before the dissolution of the federal executive council empowered the consultant working in collaboration with the implementation and advisory committee on AGOA to develop an elaborate export plan.To evolve the strategic export...

24 June 2003
Higher Returns on Investment in Africa, says World Bank

Higher Returns on Investment in Africa, says World Bank

On the surface, the news is grim. Global foreign direct investment is stagnant in some areas and dropping in others. Sub-Saharan Africa, which saw a dramatic drop in FDI inflows for 2002, is no exception. But peeling back the veneer, the picture begins to look a little different.For starters, the projected two-thirds drop in FDI for sub-Saharan Africa as a whole, from $17 billion in 2001 to $7 billion in 2002, is pretty much explained by several large, one-off transactions in 2001, the global economic and investment slowdown, and...

13 June 2003
US moves towards AGOA III

US moves towards AGOA III

White House National Security Council (NSC) director for Africa Jendayi Frazer this week helped launch an effort to expand the African Growth and Opportunity Act (Agoa), the landmark US trade legislation that supporters say can provide the market access to counter Africa's economic marginalisation.Frazer told 500 officials, businesspersons and journalists, gathered at the Mayflower Hotel to inaugurate 'The Agoa III Action Committee,' while celebrating the third anniversary of the Act, that "Agoa has become the centrepiece of our economic...

13 June 2003
Malawi : AGOA Deadline Worries Textile Industry

Malawi : AGOA Deadline Worries Textile Industry

After the December, 2004 textile producer will not be able to source textiles for garment production for Agoa exports to America from within the country and the Sub-Saharan region.This factor is worrying garment and textile players, Garment and Textiles Association of Malawi (GTAM) national consultant Julian Mhone said with the future of David Whitehead and Sons (DWS) in limbo, it will be difficult for the industry to source yarn and fabrics within the country.Agoa conditions stipulate that least developed countries (LDCs) like Malawi and...

12 June 2003
Exports to US Leap As Firms Use AGOA

Exports to US Leap As Firms Use AGOA

SA's exports to the US under the African Growth and Opportunity Act (Agoa) jumped 45% last year, according to a new US administration report on the preferential trade access programme.This shows that SA exporters are beginning to take real advantage of the Agoa programme, which offers tariff-free and quota-free access for thousands of products from SA and dozens of other African countries into the US market."SA increased its total Agoa exports from $923m in 2001 to 1,3bn in 2002, a 45% increase," according to the report, which was compiled...

06 June 2003
US Picks Uganda for $475m 'AGOA' Facility

US Picks Uganda for $475m 'AGOA' Facility

The United States has selected Uganda, among other African countries, to benefit from a $475m facility that will be used to support projects that are participating in the African Growth and Opportunity Act (AGOA) export arrangement.Rosa Whitaker, a former senior trade official in the US government in charge of AGOA, said last week $125m will come from a special Citibank fund and $350m from the Millenium Challenge Fund Account."The funds are meant to support projects that produce products that enter duty-free and quota free to the US market...

05 June 2003
Investor Plans $40m for Organic Cotton

Investor Plans $40m for Organic Cotton

One of US' largest garment dealers under AGOA initiative, John Sporidis, is to invest over $40m ( about sh80b)in the spinning, weaving and spinning knitting sectors of the local textile industry. This is intended to revamp and expand the industry to meet the demands of American buyers reports Raymond Mikah.Sporidis together with Rosa Whitaker, former US official in charge of AGOA who have been touring Uganda's textile industries, said last week work to install machinery will start in three months time.He said weaving and knitting will...

05 June 2003
US- Africa Business Summit

US- Africa Business Summit

Once every two years, the Corporate Council on Africa (CCA) convenes the premier gathering in the United States of business and government leaders who are united by their shared commitment to promoting trade and investment between the U.S. and Africa. The fourth U.S.-Africa Business Summit will be held this year from June 24-27 at the Washington Hilton Hotel in Washington D.C. The summit’s theme is “Building Partnerships.” The goal of the Summit is to facilitate export/import trading, identify agents, representatives and distributors,...

31 May 2003
New Industrial Expansion to Create 18,000 Jobs, Thanks to AGOA

New Industrial Expansion to Create 18,000 Jobs, Thanks to AGOA

Employment rate in the textile and clothing industry has risen by 36 percent from 29,000 to 45,000. The Lesotho Fancy Garments Group's new factory at the new Mohale's Hoek Industrial Estate will generate 18,000 new jobs when completed.While Foreign direct investment flow into the African continent is declining, Lesotho has emerged as one of the top four in sub-regional group of countries that have experienced heightened levels of inward investment flows.Investors are reported to be coming into Lesotho not only from the traditional target...

30 May 2003
Bush to Give AGOA Award to Museveni

Bush to Give AGOA Award to Museveni

PRESIDENT Yoweri Museveni is to be honoured by US president George Bush in June as Africa Growth Opportunity Act (AGOA) marks its third year since it was signed into law by former US president Bill Clinton.AGOA was enacted to allow products from select African countries to enter duty free and quota- free to the US market as a strategy to boost development in Africa.Museveni will be honoured at the White House for the being the first African President to endorse AGOA and for his relentless campaign for the developed countries to open up and...

28 May 2003
Levi Strauss Unit to Export to US under AGOA

Levi Strauss Unit to Export to US under AGOA

The eightyear-old Levi Strauss factory in Epping, Cape Town, which started to make Levi 501 jeans for European markets last year, is beginning to produce jeans for export to the US, GM Mike Joubert said yesterday.Joubert said during the international clothing group's 150th birthday that Levi's exports to the US would benefit from the provisions of the Africa Growth and Opportunity Act (Agoa).Agoa permits duty-free access to the US market for a specified range of goods made in sub-Saharan African countries.In addition to making jeans for the...

21 May 2003
US Hopeful of AGOA Extension

US Hopeful of AGOA Extension

THE American government is hopeful that the African Growth Opportunity Act (AGOA) will be extended when it expires in 2008.Assistant Secretary of State for African Affairs Walter Kansteiner III said this in Gaborone, Botswana recently in answering questions to journalists during the official dedication of the Southern Africa Global Competitiveness Hub.Mr Kansteiner, who described AGOA as the first step in a long process, said "AGOA kind of lays the beginning foundation if you will."It's a very important foundation and there are real benefits...

16 May 2003
Live Webcast: AGOA and Ethiopia

Live Webcast: AGOA and Ethiopia

EthioIndex to webcast a LIVE Internet audio call-in dialog in Amharic titled "The African Growth and Opportunity Act (AGOA) & Ethiopia: Current issues and awareness"May 11, 2003 (EthioIndex.com) EthioIndex is proud to announce an upcoming webcast titled "African Growth and Opportunities Act (AGOA) & Ethiopia: current issues and awareness" to be held Sunday May 18, 2003 at 3 PM Easter Time (New York). The webcast will be transmitted live at http://www.ethioindex.com. In the two years since the passage of the act, only one Ethiopian company is...

13 May 2003
Nigerian Govt Okays 2.5% Duty for AGOA Industrialists

Nigerian Govt Okays 2.5% Duty for AGOA Industrialists

INDUSTRIALISTS under the aegis of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) who are involved in the importation of industrial equipment under the African Growth and Opportunity Act (AGOA) scheme are now to pay 2.5 per cent Customs duty on such goods.According to document from NACCIMA made available to Vanguard, the approval was conveyed to the association by the Director (Fiscal) in the Federal Ministry of Finance, Mr. B. M. Dankano in a letter to the association and copied to the Director...

08 May 2003
Weak US Dollar Threatens the Textile Industry

Weak US Dollar Threatens the Textile Industry

Latest economic figures show that Lesotho's inflation dropped by just over one per cent between February and march this year, an indication that the country would realize poverty alleviation in a long way."It is also hoped that with the fall in inflation both in South Africa and Lesotho, the interest rates will decline, and economic growth be stimulated. The fall in inflation will also go a long way towards poverty alleviation," said a statement from the Central Bank of Lesotho on Monday.The Central Bank statement said latest figures from...

08 May 2003
New global-competitiveness hub for Gaborone

New global-competitiveness hub for Gaborone

Assistant US Secretary of State for African Affairs Walter H Kansteiner III will join Botswana's Minister of Trade and Industry, Jacob Nkate, as well as business leaders from countries throughout southern Africa, on May 8, to officially dedicate the Southern Africa Global Competitiveness Hub.US Ambassador to Botswana Joseph Huggins will host the event at the Hub facilities in Gaborone.The US Agency for International Development's (USAID) Regional Center for Southern Africa (RCSA) established the trade hub in 2002 as part of the US...

05 May 2003
Despite AGOA, Clothing Industry Still in Crisis

Despite AGOA, Clothing Industry Still in Crisis

Mozambican companies exported 500,000 dollars worth of clothing to the United States in 2002, using the duty-free provisions of the African Growth and Opportunity Act (AGOA), reports Friday's issue of the Maputo daily "Noticias".Despite this, the Mozambican clothing industry remains in deep crisis. In the closing years of the colonial period, there were over 50 clothing factories in Maputo. Now there are just three (Sabrina, Ninita and Umar Textiles), employing about 1,000 people, mostly women. A fourth company, Belita, operates in Beira.All...

02 May 2003
Big textile investment push into Lesotho

Big textile investment push into Lesotho

Lesotho’s textile industry is one of the most lucrative business sectors in that African country, according to Andrew Gibbs, research intern at the University of Natal’s Centre for Civil Society. Since gaining independence in 1966, Lesotho has used foreign investment as a springboard for development. It set up the Lesotho National Development Corporation in 1967 to attract investment from abroad, but it was not until the 1980s when economic sanctions started to hit South Africa that investment in Lesotho really started to grow. “With...

28 April 2003
Kenyan VP Urges Flower Producers to Exploit AGOA

Kenyan VP Urges Flower Producers to Exploit AGOA

Vice-President Michael Wamalwa has challenged flower producers to exploit the opportunity presented by the African Growth and Opportunity Act (Agoa). The VP revealed that plans were underway to introduce direct flights to Miami, USA as part of the Government's effort to utilise the opportunities in the North American market. Wamalwa was speaking at Oserian Development Company in Naivasha, during the launch of a geothermal green house heating project. The function also marked 21 years since Oserian begun growing flowers in Naivasha. The...

27 April 2003
Erwin to Visit US in New Bid to Attract Investment to SA

Erwin to Visit US in New Bid to Attract Investment to SA

TRADE and Industry Minister Alec Erwin is off to the US next month in an effort to woo new investment into SA.The trip is designed to persuade US businessmen that there are enormous opportunities in exportoriented projects in SA; to cash in on the trade concessions offered by the US under the Africa Growth and Opportunity Act (Agoa); as well as to highlight SA's various competitive advantages.Trade opportunities are likely to expand under the planned free trade area (FTA) agreement which is due to be negotiated between Washington and the...

16 April 2003
AGOA Exporters in Planned Meeting With Clients

AGOA Exporters in Planned Meeting With Clients

Representatives of local exporters to the United States under the African Growth and Opportunity Act (AGOA) are to meet potential customers of their products.The AGOA Implementation Advisor, East and Central Africa, Jo Ann Sparacino said this while meeting exporters at the SPEED office in Nakasero.SPEED is a USAID funded project for helping boost exports."We are aiming at serious long term relationships, with the buyer as a friend. The buyer knows what is selling and would be able to advise his supplier on what to aim at."It would be...

03 April 2003
Lace manufacturer ties its knickers into AGOA's knot

Lace manufacturer ties its knickers into AGOA's knot

Durban - Family run company Universal Lace and Fabric Mills, the only raschel lace manufacturer in southern Africa, has seen its business grow in the last few years.Local clothing companies that it supplies have taken advantage of the Africa Growth and Opportunities Act (Agoa), which gives African textile and apparel manufacturers preferential access to US markets.The business, started 35 years ago by a consortium of 10 families, is now exploring direct export opportunities.Kamalesh Naran, a director of Universal Lace, said: "We need to...

30 March 2003
Proclamation by US Pres. Bush on the DRC and Gambia

Proclamation by US Pres. Bush on the DRC and Gambia

To Take Certain Actions Under the African Growth and Opportunity Act with Respect to the Republic of the Gambia and the Democratic Republic of Congo: By the President of the United States of America A Proclamation 1. Section 506A(a)(1) of the Trade Act of 1974, as amended (the "1974 Act") (19 U.S.C. 2466a(a)(1)), as added by section 111(a) of the African Growth and Opportunity Act (title I of Public Law 106-200) (AGOA), authorizes the President to designate a country listed in section 107 of the AGOA (19 U.S.C. 3706) as a "beneficiary...

28 March 2003
AGOA Is Opportunity Ghanaians Are Grasping, Official Says

AGOA Is Opportunity Ghanaians Are Grasping, Official Says

Washington - The U.S. Government is "working very hard" using tools like the African Growth and Opportunity Act (AGOA) to increase trade with Ghana. Ghanaians, in turn, are working hard to take advantage of the act's favorable trade benefits to spur their economy by increasing exports into the U.S. market, says Deputy U.S. Trade Representative (USTR) Jon Huntsman. To truly prosper, the American said Ghana "must move beyond traditional exports of primary commodities and diversify into value-added products. Under AGOA, Ghana has already begun...

25 March 2003
Make Effective Use of AGOA - US Commercial Attaché

Make Effective Use of AGOA - US Commercial Attaché

Ms Janice M. Bruce, Commercial Attaché of the US Embassy in Accra has called on Ghanaian businessmen and women to use the African Growth andOpportunity Act (AGOA) as an effective instrument to help them gain a better foothold on the international market."Much would depend on each Ghanaian company's approach to researching their markets, studying the demographics of their target audience, assessing customer needs, focusing on competitive pricing, quality and customer service".Ms Bruce was speaking at the commissioning of the first Ghanaian...

20 March 2003
AGOA boosts Lesotho's textile exports to US by 50%, but...

AGOA boosts Lesotho's textile exports to US by 50%, but...

Maseru - Textile exports from Lesotho to the US have jumped 50 percent in 2001/02 because of a new trade act, a US International Trade Commission report said last week.However, a Lesotho trade union alleged that the increase was partly due to the exploitation of textile workers.The African Growth and Opportunity Act (Agoa) was designed to improve access to US markets by African exporters.According to the report, Lesotho's textile exports to the US rose to just over 300 000 tons in 2001/02 from 200 000 tons the previous year and the textile...

18 March 2003
Ghana Targets Textile Exports to U.S.

Ghana Targets Textile Exports to U.S.

THE MINISTER of Trade and Industry, Dr. Kofi Konadu Apraku, said last week in an interview that even though the country had access to a $70 million textile and apparel market in the US since the inception of the Visa System under the African Growth and Opportunity Act (AGOA) in April last year, only $8million worth of textiles and garment products were exported.Non-traditional exports to the US increased by $8million from $42 million in 2001 to $50million last year and it is targeted to reach at least $62million this year.In order to export...

10 March 2003
Seardel's interims benefit from AGOA

Seardel's interims benefit from AGOA

Cape Town - Seardel Investment Corporation yesterday posted an exceptionally well-stitched set of half-year results.This was reflected in headline earnings a share surging by 109.7 percent.Sales grew by more than R400 million to R2.2 billion, ensuring a 52.6 percent rise in net income to R53.5 million.Analysts said higher exports and increased import substitution had helped the results streak well ahead of expectations. They noted, however, that the next six months would be key in evaluating the effect of the stronger rand.Executive chairman...

04 March 2003
Experts to Discuss AGOA

Experts to Discuss AGOA

The Uganda Agricultural Economics Association (UAEA) is this afternoon hosting a public seminar on 'Uganda's Response and Challenges to 'Africa Growth and Opportunities Act' (AGOA) at Hotel Africana.AGOA, is a US trade initiative where selected goods from Sub-Saharan Africa access their market quota and tariff-free.The seminar will be an opportunity to build on earlier efforts to mobilise production towards the US market.The necessity to create awareness of the opportunities has been raised by Edith Sempala(pictured), Uganda's Ambassador to...

26 February 2003
African exports to US decline 13% despite AGOA's trade boost

African exports to US decline 13% despite AGOA's trade boost

Johannesburg - African exports to the US fell 12.9 percent last year despite increased sales to the world's biggest market under its Africa Growth and Opportunity Act (Agoa).According to the US International Trade Commission (USITC), South Africa's Agoa exports had grown 46 percent to $1.3 billion between 2001 and 2002, even though its total exports had fallen 4 percent to $4.2 billion over the period.Standard Bank economist Henry Flint said the fact that exports under Agoa had grown when overall exports from the continent had fallen...

24 February 2003
AGOA Stimulates Economic Liberalization

AGOA Stimulates Economic Liberalization

The US Africa Growth and Opportunity Act (AGOA), symbolizes aid and opportunities aimed at stimulating economic growth in Africa and to integrate her economies into the global economy for increase productivity. It also serves as a catalyst for economic development by underpinning free exportation of goods, and promoting world marketing of goods, and services from Africa. Critics have associated it with another form of exploitation and colonization of African countries.Nonetheless, the primary objective of AGOA is "to encourage increased...

14 February 2003
New South African Textile Projects benefiting from AGOA

New South African Textile Projects benefiting from AGOA

The Free State Development Corporation (FDC) is constructing a new R18-million factory building to accommodate a R213-million textile mill in Industriqwa, the industrial hub of Harrismith, in the eastern Free State.The investors in the venture are Lifing Textiles, a 50% partnership between a Taiwanese businessman and South African company Sun Home Import and Export. “The 10 000 m2 mill, believed to be the largest in South Africa, will produce 12 000 000 m of denim cloth, using yarn sourced from Taiwan.“A portion of the manufactured...

07 February 2003
'Take more advantage of AGOA,' experts say

'Take more advantage of AGOA,' experts say

THE US Africa Growth and Opportunity Act (AGOA) can do much to stimulate Namibian trade and development, but not all parties are happy with the law's provisions. Trade and Industry Minister Jesaya Nyamu, recently returned from a forum on AGOA in Mauritius, told a meeting of business people yesterday that the US represented a vast market for the products of sub-Saharan Africa."Sub-Saharan Africa accounts for less than two per cent of US merchandise imports, which indicates a huge potential for trade growth," Nyamu said."There are obviously...

06 February 2003
Agoa's short supply ruling may aid countries in crisis

Agoa's short supply ruling may aid countries in crisis

Durban - The US would probably implement the short supply ruling of the Africa Growth and Opportunity Act (Agoa) to help poor countries facing a temporary shortage of textiles, Walter Simeoni, SA Textile Industry's president, said yesterday. Fresh from Agoa, Simeoni said the entire sub-Saharan African textile industry supported retaining the deadline for least developed countries to discontinue fabric imports from other sources by September 2004. Small countries with an apparel industry based on fabric imports from the Far East were most...

21 January 2003
AGOA forum connects Africans to Africans for business

AGOA forum connects Africans to Africans for business

Durban - "African delegates who came to Mauritius expecting to talk mainly to potential US investors made great contacts with each other for future business deals," Tim McCoy, the spokesperson for the private sector at last week's second Africa Growth and Opportunity Act (Agoa) forum, said at the weekend. Intracontinental trade is providing a major spin-off for poor countries like Zambia, which has benefited from Agoa by selling yarn to Mauritius for the first time. Mauritius is also investing in apparel factories in Madagascar as well as in...

20 January 2003
AGOA Can Create 200,000 Jobs in Kenya

AGOA Can Create 200,000 Jobs in Kenya

A report released during a summit in Mauritius last week said Agoa could potentially enable as many as 200,000 Kenyans to find work, but critics of the policy have their doubtsKENYA COULD create about 200,000 jobs in the textile sub-sector under the Africa Growth and Opportunity Act ( Agoa), substantially boosting the new government's pledge to create 500,000 jobs annually.A US trade report shows that Kenya's textile sales to America have soared from $189 million in 1999 to $577 million in 2001, following the establishment or reopening of...

20 January 2003