TRALAC - Trade Law Centre

Africa needs to be competitive to maximize its AGOA gains

Saturday, 10 August 2013 Published: | LALU ITALA

Source: Ethiopian Radio and Television Agency (Addis Ababa)

The AU Commission urged eligible African states to enhance their capacity to export products into American markets. This came as the 12th AGOA forum was taking place in Addis Ababa at AU headquarters with the theme "sustainable transformation through trade and technology' on Saturday 10 August, 2013.

African womens' Entrepreneurship Associations, private sectors and civil societies have held deliberations on how to maximize development impacts of AGOA on Saturday.

Mrs Fatima Haram, AUC commissioner for trade and industry speaking at opening of the session, expressed both the US and African nations have benefited from the AGOA though the imbalance is huge in favour of US.

The discussions held in Addis Ababa offer the participants a room to find ideas for change.

She said despite the achievements registered in the last 12 years the eligible African states need do to a lot to fill in the gaps

Mulu Sollomon, President of Ethiopian Chamber of Commerce and Sectoral Association, said Ethiopia being one of the beneficiaries of AGOA has collected significant amount of revenue.

But it has a long way to go in terms of maximizing the benefits (that) AGOA can offer.

Mr. Stephen Hayes, president of Corporate Council on Africa, emphasized Africa should work to meet the demand by meeting the necessary requirements for trade. He added capacity building is fundamental to realize sustainable competitiveness.

The findings of the discussion are expected to contribute for the high level ministerial meeting to be held within the coming days.