Washington trade expo to facilitate AGOA
Destined to be held in Washington DC, Ethio-US 2020 trade fair is set to facilitate business opportunities for 200 local companies in a bid to revitalize the African Growth Opportunity Act (AGOA) which is drawing to its deadline in five years.
Organizers of the trade fair told reporters on Thursday that some 200 Ethiopian businesses engaged in import and export, service and tourism sectors, will be heading to the US to partake in the trade fair.
Abebe Feleke, an artist, TV show host and general manager of Ethio Promotions LLC, a US based firm, said that since AGOA has never been utilized properly and as it is edging to be finalized in five years, his firm felt to create awareness and business connections with US based buyers for Ethiopia’s products and services illegible for AGOA.
Through their associations, US companies have been contacted and have confirmed to meet-up with Ethiopian counterparts in Washington, where the trade fair takes place from May 21 - 23, 2020, at Gaylord national Resort and Convention Center.
However, for two decades, textile and garment manufacturers, leather and shoe makers could not utilize the US market through AGOA for many reasons, most critically failing to meet quality standards. In fact, many could not utilize the quota and tariff free US markets because of capacity challenges.
Yetemare Awoke, general manager of Dunamis Social Entrepreneurs noted that some 200 local businesses will have the opportunity to travel to the US and meet potential buyers and create networks. According to Hana Alem, CEO of Alem Trade and Promotion Service; manufacturers, banks, real estate developers, and tour and travel operators are part of the business delegation heading for the trade fair. Ethio Promotions has partnered with Dunamis and Alem Trade to organize the trade fair.