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Namibia could benefit more from AGOA Friday 10th of February 2006 Three experts from the Bank of Namibia on Tuesday presented their findings on the Africa Growth and Opportunities Act (Agoa) of the USA, which has since it was passed 5 years ago, benefited qualifying African countries by way of revenue earned exporting goods to the USA. Namibia has increased it export volumes since Agoa, mainly through textiles from Ramatex, the experts noted. Namibia significantly increased its exports from barely N$57,4 million in 2002 to N$238,2 million by 2004. The research team of the BoN - Vitalis Ndalikokule, Esau Kaakunga and Ben Biwa - said Agoa was a one-sided and temporary agreement running out in 2015 and the US government determining all the conditions. Value addition done locally in Namibia to minerals and metals would increase Namibia’s exports to the US for the time being as well as grape exports, the team of experts recommended. |
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