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Mozambique tries to increase exports to US

The Mozambican Ministry of Industry and Commerce has launched the African Growth and Opportunity Act (AGOA) Utilization Strategy that aims to diversify and increase the country’s exports to the US. The strategy, unveiled last Monday, identifies specific sectors and products to boost their production and exports as well as the conducting of technical training, in-depth studies to attract investment and the massive dissemination of the strategy to different groups.

Mozambique’s Trade and Industry Minister Ragendra de Sousa said the strategy would boost production. “The strategy should be used to encourage the private sector to export to the United States market.”

AGOA allows tariff-free access to US markets for thousands of goods from 38 African nations. Mozambique is one of the beneficiary African countries, but since the law was created in 2000, just $1 million of the $100 million Mozambican exports to the US have benefited from AGOA’s tax-free access.

Journalducameroun.com quoted the US ambassador to Mozambique, Dean Pittman, as saying: “Trade incentives to access the US market will lead to increased investment in Africa, creating more jobs and economic opportunities for all.”

Publication date: 5/17/2018


 


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