Gov’t admits textile industries ‘significantly’ affected by AGOA’s withdrawal
Ethiopian government has admitted that textile industries have been significantly affected by Ethiopia’s withdrawal from AGOA.
In November 2021, the United States suspended Ethiopia from the African Growth and Opportunity Act (AGOA), tariff and quota free access to the US market, in response to the war in the Tigray region, and its consequences.
Minister of Industry Melaku Alebel said Friday that, “Textile industries have been significantly affected by the adverse impacts of Ethiopia’s suspension from the AGOA platform.”
“Though most of the foreign currency has been gained by these industries, which are a source of livelihood for thousands, the Covid-19 pandemic and the war in northern and northeast part of the country decimated the benefits garnered from the industries,” he added.
He hopes that the new peace deal between the federal government and the TPLF held in South Africa as a signal for lasting peace, which will have a paramount role to stimulate investments.
Melaku opened the 8th edition of Africa Sourcing and Fashion Week (ASFW) on Friday at Ethiopian Skylight Hotel.
ASFW 2022 is an international platform for manufacturers from the entire African continent. This year the show is dedicated to the Africa Continental Free Trade as well as Sustainable Development Goals set by the UN.
More than 200 manufacturers from 30 countries are participating on the ASFW, of which 39 of them are from Ethiopia.
The show which will remain open until November 7, 2022 has been organized by Trade and Fairs Group.
Trade and Fairs East Africa Ltd (based in Kenya) is an East African branch of the Trade and Fairs Group with the head office in Germany. The group is Europe´s biggest event organizer in East Africa with events in East and West Africa. In addition the Trade and Fairs Group represent world´s biggest organization and over 250 foreign exhibitions in the African continent. The company consists of representing offices in Kenya, Nigeria, Namibia, Mozambique and Zambia.