Ethiopia among leading countries in benefits of AGOA treaty
Addis Ababa, May 26, 20 20 (FBC) –Ethiopia is among the leading countries in the East African region in its use of the Africa Growth Opportunity Act (AGOA) treaty.
According to the US Trade and Investment with sub-Saharan Africa- Recent Trends and New Developments report, Kenya led the region, scoring 98%.
Ethiopia at 81.9 % and the Democratic Republic of Congo (DRC) at 68.2 % are the other eastern Africa countries that have also taken advantage of the treaty to increase exports to the US mainly of products like textile and apparels, metals, agricultural products and artefacts.
Increase in apparel exports by Madagascar, Ethiopia and Kenya resulted in US imports of apparel from the region under AGOA increasing by 9.9% annually to $1.2 billion from 2016 to 2018.
Source: The East African