The African Growth and Opportunity Act (AGOA) was signed into law on May 18, 2000 as Title 1 of The Trade and Development Act of 2000. The Act offers tangible incentives for African countries to continue their efforts to open their economies and build free markets.Nigeria and Forty Three (43) of the 48 Sub-Saharan African countries are eligible for AGOA. Nigeria secured its AGOA eligibility on October 2, 2000.
AGOA provides trade preferences – duty-free and mostly quota-free access to the US market – to approximately 7,000 tariff lines. These include products falling under the US GSP, as well as over 1,500 tariff lines added by the AGOA legislation. For ease of comprehension, the products have been categorized into six (6) major sectors as follows:
- Cashew e.g. raw, roasted, salted
- Shea e.g. Shea butter- bulk and finished products
- Home Decor & Fashion Accessories e.g. Furniture and wood products, hand-crafted pottery and baskets, leather handbags and shoes
- Apparel e.g. Hand-woven cloth, ethnic printed fabrics, silver and beaded jewellery
- Specialty Foods e.g. Boxed fruit juices, chips and cassava by products, vegetables, honey, palm-oil, spices
- Sustainable Fish & Seafood e.g. Frozen, Dried or smoked fish, snail, shrimp
The US-BOI AGOA Resource Centre (ARC) was officially commissioned on 9th June, 2009. The ARC is the 19th of such facilities in the sub-region. The center is equipped with computers and internet facilities, a library and a meeting room is opened to members of the public and business community. The ARC provides an essential interface between potential Nigerian exporters and their United States and European counterparts using the extensive network and support of the West Africa Trade Hub based in Accra, Ghana.
FUNCTIONS OF THE US-BOI AGOA RESOURCE CENTER
Provide easy access to information resources ;
- Increase the awareness and understanding among the private sector of the advantages set by AGOA;
- Educate businesses on the list of eligible export products under AGOA and the practical steps involving documentation guidelines such as completion of commercial invoices, packaging lists, and certificates;
- Provide advice and support businesses with targeted industry-specific and market regulatory information;
- Assist local companies in their preparations to participate in international trade shows and exhibitions;
- Work strategically with the public and private sectors to define and implement national export strategies;
- Provide Information on how Export-Ready Companies can have access to Finance to grow their business.
We are located at:-
[one_third]US-BOI AGOA Resource Centre,
BANK OF INDUSTRY BUILDING,
LAGOS.[/one_third] [one_third]Tel: 01-280-6869
firstname.lastname@example.org[/one_third] [one_third_last]For more information please visit: