All signs point to #Swaziland no longer qualifying for #AGOA under the @USTradeRep @AGOAinfo requirements deadline in one month, 15th May, but what will the real cost be to the country? According to the data available, Swaziland exported over E2bn worth of goods to the US over the past three years. This was not limited to the garment (textiles and apparel) industry (which is significant) but also included agricultural products, forestry products, chemicals and related products, footwear, minerals and metals, machinery, transportation equipment, electronic products, and other miscellaneous manufactures. The importance of trade is not the current access and income derived from the biggest economy in the world but lost potential and future opportunity for further economic growth driven by FDI, but more significantly the indigenous business growth and innovation that goes with freer trade. The real value goes far beyond the current trade figures, and if the government of Swaziland initiated economic reforms and support, this could be realised. Unfortunately the leaders of this country are more concerned with what is written in a magazine, a man performing his duties as a government employee, and workers advocating for better treatment, than addressing the goal of his majesty to see Swaziland achieve first world (developed economy) status by 2022 (With all the poverty alleviation that goes with that). Losing AGOA will not ruin the country but it will compound the hardships and suffering of the population and rob them of the potential economic growth and job creation that could address current poverty. This is not limited to the 63% living in poverty, but also includes the middle/merchant classes.Though Im sure certain budget lines will be ring-fenced as they were in 2010/2011.
Posted on: Tue, 15 Apr 2014 15:34:31 +0000
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