Times Of Swaziland: EXPORTS TO US UP BY 19%

EXPORTS TO US UP BY 19%
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BY ASHMOND NZIMA on 06/04/2021 07:51:00


MBABANE – As the country launches its AGOA National Utilisation Strategy and
Action Plan, there is an opportunity to increase its exports to the US even
further.
AGOA is the African Growth and Opportunity Act (AGOA).The major purpose of the
Act is to enhance market access to the United States for qualifying sub-Saharan
African (SSA) countries by offering incentives for African countries to continue
their efforts to open their economies and build free markets. Each
AGOA-benefitting country that includes Eswatini was called to develop an AGOA
utilisation strategy to maximise export trade and investment from US companies.
Eswatini launched its strategy in the past week. It is meant to address
limitations and capitalise on prevailing opportunities for Eswatini, with
targeted support to develop identified priority export products and sectors.
Figures from the Office of the United States Trade Representative show that
Eswatini was the United States’ 163rd largest supplier of goods imports in
2019. US goods imports from Eswatini totaled US$16 million (over E234.5 million)
in 2019, up 19.1 per cent from 2018, but down 85.5 per cent from 2009.
The top export categories to the US in 2019 were sugar preserved food (other
fruit, nut), optical and medical instruments), machinery and electrical US total
imports of agricultural products from here in Eswatini totaled US $12 million
(over E175.9 million) in 2019. The leading category is raw beet and cane sugar
(over E146 million). The recommended priority products for export for Eswatini
under the AGOA programme, based on 2019 top 10 exports and consultations consist
of a long list made up of alcoholic solutions, textiles and apparel, sugar,
leather, beverages, spirits, and vinegar , handicrafts, horticulture and citrus
and agro-processing, among others.
After the launch of the strategy, last Monday, two days later stakeholders that
included trade union and exporters representatives were invited to the US
Embassy offices in Ezulwini where there was a further breakdown of the benefits.
benefits
George Makore from Southern Africa Trade and Investment Hub shared that benefits
would include duty-free treatment for AGOA eligible products. Third Country
Fabric provision allows duty-and quota-free access for apparel made from fabric
of any origin. It was shared that there was also a potential for increased
Foreign Direct Investment (FDI) and export growth. Increased utilisation of AGOA
will result in more job opportunities.
“Exposure to the U S market creates relationships which might continue after
the AGOA programme,” he said.