ESWATINI AGOA EXPORTS TO INCREASE BY 12% ANNUALLY

EZULWINI – As businesses continue to look for markets outside the country, policies and government’s relations with other states remains key.

Eswatini’s export industry was greatly affected by COVID-19 and the unrest which forced some businesses to close. The African Growth and Opportunity Act (AGOA) remains an important aspect to firms in reaching the South African and US markets. This was mentioned by the United State of America Ambassador to Eswatini Jeanne M. Maloney yesterday.
This was during the Second Edition of Eswatini Annual Exporter Awards organised by Eswatini Investment Promotion Authority (EIPA) and Business Eswatini (BE). The event is meant to incentivise and encourage export firms in Eswatini to continue exploring innovative ways of improving their regional export competitiveness and to get their products into the U.S. market using the African Growth and Opportunity Act (AGOA).  

The ambassador said Eswatini’s National Strategic Development Plan remains the driving force of collaboration, between the U.S. Government and the Kingdom of Eswatini, which is boosting exports of proudly Eswatini-made products. She said their Economic Growth Policy demonstrates the United States’ commitment to promoting inclusive, sustained, and resilient economic growth in developing countries. “The US Government shares a vision with all our partners to promote the role of private sector-led economic growth,” she said. Maloney also mentioned that the US Government supported the development of the AGOA Utilization Strategy for Eswatini that was launched in March 2021.

She said it aims to increase exports from Eswatini to the United States under AGOA by at least 12 percent per year. “This is a goal that will benefit both countries,” she said. She added that despite the turbulence caused by the COVID-19 pandemic, Eswatini’s exports to South Africa grew by nearly 12 per cent between 2020 and 2021, and they included drinks, sugar, timber, and textiles. Minister of Commerce Industry and Trade Manqoba Khumalo said last year’s exports were over E30.6 billion from different sectors of business which is an eight per cent growth from 2020 exports of about E28.3 billion. He said this indeed is encouraging, noting that companies are enthusiastic about doing business in Eswatini, in particular exporting to other markets across the globe.

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