U.S. Supports Trade and Investment in East Africa
Posted on : Monday , 26th October 2015
U.S. Ambassador to Ethiopia Patricia M. Haslach
joined President Mulatu Teshome at the Origin Africa presents: Africa Sourcing and Fashion
Week trade expo to promote East African countries as sourcing and investment destinations for
international buyers of apparel, textile, leather, and home decor. The United States Agency for
International Development (USAID)-supported trade expo is a prime opportunity to raise the
profile of East African designers and manufactures, and draw investment to the region.
President Obama launched the Trade Africa initiative in 2013 to boost trade and investment with
and within East Africa. The initiative boosts trade and investment in East Africa through the
USAID-funded East Africa Trade and Investment Hub. Since its launch in November 2014, the
East Africa Trade and Investment Hub has facilitated 170 linkages between buyers and East
African firms, yielding $80 million in exports to the U.S. under the African Growth and
Opportunity Act (AGOA). More than $16 million of these exports were from Ethiopia. Through
AGOA, the U.S. Government promotes African trade competitiveness, job growth, and poverty
reduction. Under AGOA, nearly 6,400 qualifying items can be exported to the U.S. without
import duties.
“The recent 10-year AGOA extension provides greater certainty for African producers and U.S.
buyers about access to the U.S. market and creates a stable environment that encourages
increased investment in sub-Saharan Africa,” said Ambassador Haslach. “As you can see from
the number of exhibitors and buyers here today, Africa is open for business.”
The East Africa Trade and Investment Hub partners with the private sector and local
governments to find practical solutions for trade and investment constraints. It also builds
awareness around opportunities for African and U.S. firms to increase trade, expand business
partnerships, and invest in East Africa.
To learn more about trade capacity building and market linkage opportunities under AGOA,
contact the USAID East Africa Trade and Investment Hub
Source : www.eatradehub.org
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