Gov't acts as AGOA exports hit zero

Alternative growth: The textile sector is now generally focussed on the domestic market PIC: MORERI SEJAKGOMO
Alternative growth: The textile sector is now generally focussed on the domestic market PIC: MORERI SEJAKGOMO

Government is hoping its newly revitalised strategy for the African Growth and Opportunities Act (AGOA) reaps dividends after revelations that exports by local companies under the trade deal have been at zero since 2019 end.

AGOA is a trade arrangement between the US and sub-Saharan African countries, including Botswana, which runs till 2025 and provides relaxed access to the American market.

From a peak of P1.8 billion in AGOA exports by local firms in 2008, the figures have been plummeting over the years as key exporting sectors such as textiles and garments have struggled with a plethora of issues. While the US remains the most lucrative market for local textile players, issues such as scale, capacity, distance, costs, high competition for the American market and government reluctance to keep extending incentives for producers, have led to the closure of some factories and relocation by others.

Editor's Comment
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