Sierra Leone has obtained the necessary documentation to start exporting its goods to the United States under the African Growth and Opportunity Act and other AGOA affiliated countries.
“Sierra Leone will soon start exporting goods to the US and other AGOA eligible countries,” AGOA Coordinator in Sierra Leone, Ayodele Williams told the media recently.
Sierra Leone has been part of the initiative since 2004, but most of its goods by then could not meet the standard of US markets and there were also problems with documentation.
Williams urged small-scale businesses to increase their production over the coming months, because they would be sending products to bigger markets out of the country.
Explaining the benefit of the AGOA collaboration, Williams said: “As the cornerstone for economic development, AGOA will contribute to the diversification and competitiveness of sub- Saharan Africa’s economies, support hundreds of thousands of jobs, increase global prosperity and market opportunities that accompany Africa’s rise.”
In another development, Sierra Leone’s economy is expected to slow down by 0.7%. A review the country’s economic performance by IMF predicted that the economic growth would slow down to 5.6% in 2017 from 6.3% in 2016.
It said the slowdown is a result of fewer activities in non-mining sectors.
Sierra Leone is heavily dependent on mining. More than half of the GDP of the country in 2016 came from mining with principal exports of diamonds, rutile and iron ore.