Ethiopia earns $24.4 mln from AGOA benefit
Addis Ababa, December 21 (WIC) – Ethiopia earned nearly $24.4 million relying on the opportunity 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 from Ethiopia through 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 Ethiopian Ministry of Trade, the country’s export to the US has been growing by about 80 percent over the last 12 years since the introduction of AGOA.
AGOA, which was first signed into law by former US president Bill Clinton in 2000, offers incentives for eligible countries in Sub-Saharan Africa to export their goods to the US markets duty-free. Currently, there are 39 AGOA-eligible African countries.
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