Retailer and Apparel Groups Push for Immediate Long-Term AGOA Renewal with Third-Country Fabric Provision
Congress should renew the African Growth and Opportunity Act (AGOA) by the end of 2014 for at least 15 years, a number of retail and apparel groups said in an Oct. 17 press release. The release comes a group made up of African Cotton and Textile Industries Federation, American Apparel and Footwear Association, National Retail Federation, Outdoor Industry Association, the Retail Industry Leaders Association and the U.S. Association of Importers of Textiles and Apparel.
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A longer-term renewal of AGOA, which expires after September of 2015, would allow for regulatory stability that will help with trade and investment decisions, the group said. Any renewal for less than 15 years wouldn't allow for enough certainty to "attract textile investment" or "affect long term sourcing partnership decisions," they said. A renewal, ideally coming during this year, needs to happen soon to make it "truly seamless," they said. A third-country fabric provision for all AGOA beneficiary countries should be included for the entire AGOA renewal period, which would contribute to a "healthy downstream apparel sector," the release said.