Ethiopia seeks alternative markets to ease AGOA revocation

Addis Ababa, November 14, 2021 (FBC) – Extensive activities have been carried out to explore new export market destinations with a view to easing the impact of Ethiopia’s revocation from the AfricanGrowth and Opportunity Act (AGOA),theIndustrial Parks Development Corporation (IDPC) said.

Ethiopia’s AGOA privileges were not stripped immediately and the sanction would come to effect by January 2022.

IDPC CEO Sandukan Debebe told EPA that due attention has been given to widen and diversify market destinations and export items that would lessen the impact of the unjustified measure targeting Ethiopia’s economy.

“There would be no firing of employees or factory owners from parks and the overall impact would not be as grave as it is broadcasted.”