Ethiopian News, Current Affairs and Opinion Forum
Za-Ilmaknun
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Posts: 4063
Joined: 15 Jun 2018, 17:40

Forbes:-Removal of Ethiopia from AGOA: shock waves quickly rolled through the U.S. apparel & footwear industries

Post by Za-Ilmaknun » 07 Dec 2021, 19:18

The United States announced a plan to remove Ethiopia from the African Growth and Opportunity Act (AGOA) by the first day of January - and shock waves quickly rolled through the U.S. apparel and footwear industries - like a tsunami that no one expected. Manufacturers were alerted that perhaps their good-will African investments - were made in vain, and retailers started to think about pulling out of Ethiopia.

Under stark review, the concept of exiting the Ethiopian AGOA partnership is possibly a huge mistake – one that probably should (and could) be reversed, resolved, extended, or at least peppered with exemptions. America encouraged the apparel and footwear industries to make investments in Ethiopia, and now is potentially leaving “the ask.” Plus, all things considered, an abrupt exit (with only two months’ notice) has frightened other sub-Saharan African investors. They worry that the United States won’t renew AGOA in 2025, and won’t have their back the next time that trouble breaks out. :mrgreen: :lol:

https://www.forbes.com/sites/rickhelfen ... b7f3ce6a4b

sarcasm
Senior Member
Posts: 10186
Joined: 23 Feb 2013, 20:08

Re: Forbes:-Removal of Ethiopia from AGOA: shock waves quickly rolled through the U.S. apparel & footwear industries

Post by sarcasm » 07 Dec 2021, 20:00

Investing in unstable countries is a very risky business. Investors consider political risk very seriously and price it appropriately when they evaluate what returns to expect. When you take high risks you expect high returns. That is why investments in high risk countries is very profitable. Any investor looking at investing in Ethiopia will rationally expect extremely high returns to justify the level of political risk they are taking.

See Short-term political risk Country rankings for 2019. Ethiopia will join Afghanistan, Libya, Yemen, Eritrea, North Korea, Palestine, Somalia etc in the next edition of Country rankings for 2021.

https://www.theglobaleconomy.com/rankin ... hort_term/



Abiy's refusal to resolve the war by negotiations resulted in Calvin Klein & Tommy Hilfiger closing factory in Hawasa WP
sarcasm wrote:
19 Nov 2021, 21:46
Ethiopia's economy hit as major clothing maker closes shop

NAIROBI, Kenya — Ethiopia’s once rapidly growing economy is taking another hit tied to its yearlong war, with global clothing manufacturer PVH Corp. saying it is closing its facility there because of the “speed and volatility of the escalating situation.”

PVH, whose brands include Calvin Klein and Tommy Hilfiger, has been a marquee occupant of Ethiopia’s model industrial park in the city of Hawassa, where Africa’s second-most populous country has made clear its aspirations of rapid, Chinese-style development.

PVH said it is closing its facility after a planned sale was disrupted by the escalating situation in Ethiopia but added it remains committed to its third-party manufacturing partners at the Hawassa park.

The company’s statement, emailed to The Associated Press, comes two weeks after U.S. President Joe Biden announced he would cut Ethiopia from a trade program, the African Growth and Opportunity Act, because of “gross violations of internationally recognized human rights.” The sanction goes into effect on Jan. 1.

H&M, another high-profile occupant at the Hawassa park, told the AP that “we are following all developments carefully but refrain from taking any decision regarding our long-term presence in the country.”

Ethiopia’s war and the many reported atrocities on all sides have led some in the business world to press Prime Minister Abiy Ahmed and his government for a cease-fire and humanitarian access to the blockaded Tigray region, echoing efforts by envoys from both the U.S. and African Union.

Continue reading https://www.washingtonpost.com/business ... story.html

ethiopianunity
Member+
Posts: 9075
Joined: 30 Apr 2007, 17:38

Re: Forbes:-Removal of Ethiopia from AGOA: shock waves quickly rolled through the U.S. apparel & footwear industries

Post by ethiopianunity » 07 Dec 2021, 20:10

Ethiopia survived before Agoa. This is what dependence turns you into. As long ss ethiopia produce high in demand products, they will be attracted to buy. The things we export most is really for our own stomach. 9/10 diaspora invests only on Ethiopian food and restaurants in West. This does zilch to boost Ethiopia's econony. I am not saying food exports are not useful, mass raw priduction for export will. Plus, ethiopia could have focus on its own origins, ex, cofee, teff , airlines, etc and create institutions to make them competitive with the world, raher than giving away your resources to foreign companies such as starbucks
Last edited by ethiopianunity on 07 Dec 2021, 20:50, edited 1 time in total.

Za-Ilmaknun
Member
Posts: 4063
Joined: 15 Jun 2018, 17:40

Re: Forbes:-Removal of Ethiopia from AGOA: shock waves quickly rolled through the U.S. apparel & footwear industries

Post by Za-Ilmaknun » 07 Dec 2021, 20:17

You are tone-deaf like so many of your kinds. :| The gap created by the US is quickly being filled up by others. Ethiopians are saying in unison da hell with uncle Sam... and the dark money :mrgreen:

On the flip side, the US investors are mad at their own Gov't for taking away their lucrative business. The G. Smith presumption rests on Ethiopia being the beneficiary and entirely forgets about the other end of the equation. The greedy corporate world has only one friend …and sadly it ain't the TPLF invading locusts but money.
Breaking it further, most of the AGOA related industries are in Tigrai and Awassa... which makes the loss by TPLF double edged. You are damned if you do it.. and you are damned if you don't :mrgreen:
sarcasm wrote:
07 Dec 2021, 20:00
Investing in unstable countries is a very risky business. Investors consider political risk very seriously and price it appropriately when they evaluate what returns to expect. When you take high risks you expect high returns. That is why investments in high risk countries is very profitable. Any investor looking at investing in Ethiopia will rationally expect extremely high returns to justify the level of political risk they are taking.

See Short-term political risk Country rankings for 2019. Ethiopia will join Afghanistan, Libya, Yemen, Eritrea, North Korea, Palestine, Somalia etc in the next edition of Country rankings for 2021.

https://www.theglobaleconomy.com/rankin ... hort_term/



Abiy's refusal to resolve the war by negotiations resulted in Calvin Klein & Tommy Hilfiger closing factory in Hawasa WP
sarcasm wrote:
19 Nov 2021, 21:46
Ethiopia's economy hit as major clothing maker closes shop

NAIROBI, Kenya — Ethiopia’s once rapidly growing economy is taking another hit tied to its yearlong war, with global clothing manufacturer PVH Corp. saying it is closing its facility there because of the “speed and volatility of the escalating situation.”

PVH, whose brands include Calvin Klein and Tommy Hilfiger, has been a marquee occupant of Ethiopia’s model industrial park in the city of Hawassa, where Africa’s second-most populous country has made clear its aspirations of rapid, Chinese-style development.

PVH said it is closing its facility after a planned sale was disrupted by the escalating situation in Ethiopia but added it remains committed to its third-party manufacturing partners at the Hawassa park.

The company’s statement, emailed to The Associated Press, comes two weeks after U.S. President Joe Biden announced he would cut Ethiopia from a trade program, the African Growth and Opportunity Act, because of “gross violations of internationally recognized human rights.” The sanction goes into effect on Jan. 1.

H&M, another high-profile occupant at the Hawassa park, told the AP that “we are following all developments carefully but refrain from taking any decision regarding our long-term presence in the country.”

Ethiopia’s war and the many reported atrocities on all sides have led some in the business world to press Prime Minister Abiy Ahmed and his government for a cease-fire and humanitarian access to the blockaded Tigray region, echoing efforts by envoys from both the U.S. and African Union.

Continue reading https://www.washingtonpost.com/business ... story.html

quindibu
Member
Posts: 3279
Joined: 31 Dec 2010, 13:17

Re: Forbes:-Removal of Ethiopia from AGOA: shock waves quickly rolled through the U.S. apparel & footwear industries

Post by quindibu » 07 Dec 2021, 20:27

sarcasm wrote:
07 Dec 2021, 20:00
Investing in unstable countries is a very risky business. Investors consider political risk very seriously and price it appropriately when they evaluate what returns to expect. When you take high risks you expect high returns. That is why investments in high risk countries is very profitable. Any investor looking at investing in Ethiopia will rationally expect extremely high returns to justify the level of political risk they are taking.

See Short-term political risk Country rankings for 2019. Ethiopia will join Afghanistan, Libya, Yemen, Eritrea, North Korea, Palestine, Somalia etc in the next edition of Country rankings for 2021.

https://www.theglobaleconomy.com/rankin ... hort_term/



Abiy's refusal to resolve the war by negotiations resulted in Calvin Klein & Tommy Hilfiger closing factory in Hawasa WP



NAIROBI, Kenya — Ethiopia’s once rapidly growing economy is taking another hit tied to its yearlong war, with global clothing manufacturer PVH Corp. saying it is closing its facility there because of the “speed and volatility of the escalating situation.”

PVH, whose brands include Calvin Klein and Tommy Hilfiger, has been a marquee occupant of Ethiopia’s model industrial park in the city of Hawassa, where Africa’s second-most populous country has made clear its aspirations of rapid, Chinese-style development.

PVH said it is closing its facility after a planned sale was disrupted by the escalating situation in Ethiopia but added it remains committed to its third-party manufacturing partners at the Hawassa park.

The company’s statement, emailed to The Associated Press, comes two weeks after U.S. President Joe Biden announced he would cut Ethiopia from a trade program, the African Growth and Opportunity Act, because of “gross violations of internationally recognized human rights.” The sanction goes into effect on Jan. 1.

H&M, another high-profile occupant at the Hawassa park, told the AP that “we are following all developments carefully but refrain from taking any decision regarding our long-term presence in the country.”

Ethiopia’s war and the many reported atrocities on all sides have led some in the business world to press Prime Minister Abiy Ahmed and his government for a cease-fire and humanitarian access to the blockaded Tigray region, echoing efforts by envoys from both the U.S. and African Union.

Continue reading https://www.washingtonpost.com/business ... story.html
This retard Agame never ceases to amaze me.

Forget the usual hollow Agame talk about subjects that are above your pay grade......and concentrate on what matters to you!

Just count your blessings based on how many WFP trucks delivered the much needed Canadian wheat to your mom! Imbecile!

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