According to the report, COMESA Secretary General Erastus Mwencha said, the extension of the AGOA is very important to the countries because it would enhance economic development in the region. .
.
While reporting that AGOA has already generated over 450 million US dollars in the last three years, Mwencha said, such schemes should be encouraged. He said the textile quota system would be phased out under the WTO adding that there is need to intensify competition in the market. .
.
Mwencha further said that COMESA is not as efficient as China and Bangladesh, in textile production and the other hurdles for COMESA is infrastructure and transport cost to that market. .
.
AGOA offers duty-free treatment on some goods and other trade benefits to the poorer countries of sub-Saharan Africa. Thirty- seven of the 48 countries of sub-Saharan Africa qualify for AGOA. Last year, US President George W. Bush added Angola while removing two countries – the Central African Republic and Eritrea – for their failure to meet eligibility criteria. .
.
Source: Agencies
Date:7/31/2004
Source: