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Wednesday, 13 April 2016

Swaziland textile companies get a lifeline

Textile companies of Swaziland which were hard hit by the loss of the lucrative duty free market under African Growth and Opportunity Act (AGOA) of the US Government, have found another preferential market that is ready for textile products. The market was opened on April 1, 2016 when the Preferential Trade Agreement between MERCOSUR and the Southern African Customs Union (SACU) entered into force, the Times of Swaziland has reported. MERCOSUR is South America’s leading trading bloc (...) Another preferential market that is expected to open for Swazi products is the European Union (EU). Swaziland’s textile industry is looking to make the most of an Economic Partnership Agreement (EPA) with the EU that would allow duty free access to the country’s products. Swaziland is in the process of ratifying the EPA with the assistance of the EU. Once the EPA is ratified, the country will benefit through shipping its goods to the EU without delay. Swaziland’s textile industry had taken a hit after it was excluded from the list of countries eligible to get benefit under the AGOA from January 1, 2015.

Source: tralac.org

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