International Trade

AGOA: Market Opportunity and Supply Capacity in flamboyant coast Elizabeth A. Asante, Simon Bawakyillenuo, and Clemente Ahiadeke* G hana has enjoyed access to the U.S. market place beneath the African Growth and Opportunity Act since its bloodline in 2000. AGOA presents a significant opportunity for gold coast to development its manufacturing competency and diversify its exportations. However, after 11 years, it has become presum equal to(p) that despite early success, gold coast has not been able to play the trading opportunities afforded by AGOA. Ghanas exports to the U.S. increase from $116 million in 2002 to $222 million by 2008.1 The majority of the grunges exports to the U.S. are raw materials, with cocoa, wood and ores being among the raising export products. A lack of supply capacity, lack of financial resources and AGOAs ad hoc implementation has led to its underutilization. The generous preferences offered to African countries under AGO A were initiated at a crucial time of impregnable world-wide industrial competition and productive efficiency. The removal of import tariffs and quotas on a large variety of local products presented a outstanding opportunity for Ghana to expand its exports to the United States. AGOA had the positive progeny of encouraging the different sectors of the Ghanaian economy to collaborate. AGOA was expected to induction industrialization as domestic firms grow and diversified in order to add value to local products for export. It was also evaluate that the ensuing industrialization would increase employment by winning surplus labor. To date, however, these expectations have not been met. Approaches to Implementing AGOA AGOA Opportunities: Free Access to U.S. Markets Upon the characterization of AGOA, the government of Ghana, under the leadership of the New Patriotic Party, at once began to take down groundwork to position the country to exploit the benefi ts extended by the act. particular(prenomi! nal) products were identified for preferential access under AGOA,...If you want to agitate a full essay, order it on our website: OrderCustomPaper.com

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