Ethiopia regrets US decision to terminate its eligibility for AGOA

ADDIS ABABA— Ethiopia’s trade ministry said it is unhappy with the Biden administration’s decision to revoke duty-free access for the country’s exports.

The US terminated on Dec 23 Ethiopia’s eligibility for benefits under the African Growth and Opportunity Act (AGOA) citing its disapproval of the war in the Tigray region.

Ethiopia’s trade ministry said it was saddened over the decision and asked the Biden administration to reconsider it.

The trade agreement provides sub-Saharan African nations duty-free access to the United States on the condition they meet certain requirements, including eliminating barriers to US trade and making progress toward political pluralism.

In recent years, Ethiopia had one of Africa’s fastest-growing economies. However, because of the war, some Ethiopian companies are already showing signs of a downturn in their export business.

The nearly year-long war opposing the military to the Tigray People’s Liberation Front has displaced some estimated 1.7 million people.

The US action also stops Guinea and Mali from receiving the trade benefits as of Jan 1.

Source: NAM NEWS NETWORK