afrol News, 22 August - Ethiopian exports under African Growth and Opportunity Act (AGOA) has more than doubled in first six months of year 2008 as compared to first six months of 2007, reports from United States have confirmed.

According to US report, from January-June 2008, Ethiopia's AGOA exports reached US$ 9.7 million, topping US$ 8.9 million achieved during the entire 2007 calendar year. The country's AGOA exports from January-June 2007 totaled US$4.4 million.

"The first six months of 2008, total Ethiopian exports to US also rose 89 percent, to US$ $70 million from US$ $37 million in same period last year," said US embassy, further indicating that exports growth surpassed its average export growth rate of around 25 percent.

Other products, according to report, also recorded significant increases including foliage/bouquet filler 115 percent, live plants 122 percent, and fruits and nuts1,495 percent.

The report further said for textile and garments sector, that was long considered an under performer, given its potential in Ethiopia and competitive advantage offered under AGOA zero tariff preference, achieved the highest total exports with an impressive increase of over 160 percent.

"We see great potential for Ethiopia to increase exports to US under AGOA in general and in the textile and garments sector in particular," said Addis Alemayehu, Chief of Party of USAID's VEGA Ethiopia AGOA+ Programme.

He said with many new investments in pipeline, the programme has focused its support to Ethiopian Textile and Garments Manufacturers Association (ETGAMA) in order to continue with robust winning streak.

VEGA Ethiopia AGOA+ Programme funded by United States Agency for International Development (USAID), is the only stand-alone trade promotion program in Africa working to increase exports to the US under AGOA.

The programme which has been operating in Ethiopia for last three years, is currently coordinating and marketing Ethiopian made textile and garments to US markets.

VEGA Ethiopia AGOA+ Program and ETGAMA announced launch of new website to promote Ethiopian textile and garment manufacturers to global market.

By staff writer

© afrol News

Related pages and feature

Current afrol News Top Stories