• About Us
  • Services
    • Asset Enhancement Advisory
    • Consultancy
    • Outsourcing & Offshoring
    • Partnering
    • Real Estate JVs
    • Project and Structured Finance
  • PPP Trade
  • Project Financing
    • Infrastructure Project Finance
    • PPP Project Finance
    • Project Support Services
    • Project DPR
    • Funding Process
    • Project Business Plan
    • Project Funding
    • SFE-Air Cargo
    • Trade Finance
    • Corporate Finance
  • SBLC
    • Essential Deposit
    • Free Bank Guarantee
    • Buy or Lease SBLC
    • SBLC Factsheet
    • SWIFT Messages
    • Leasing SBLC
    • SBLC Monetizing
    • SBLC & BG Providers
  • Banking news
  • Contact Us
  • info@avant.com
  • Mon-Fri 8am - 6pm
Twitter Linkedin Instagram
  • About Us
  • Services
    • Asset Enhancement Advisory
    • Consultancy
    • Outsourcing & Offshoring
    • Partnering
    • Real Estate JVs
    • Project and Structured Finance
  • PPP Trade
  • Project Financing
    • Infrastructure Project Finance
    • PPP Project Finance
    • Project Support Services
    • Project DPR
    • Funding Process
    • Project Business Plan
    • Project Funding
    • SFE-Air Cargo
    • Trade Finance
    • Corporate Finance
  • SBLC
    • Essential Deposit
    • Free Bank Guarantee
    • Buy or Lease SBLC
    • SBLC Factsheet
    • SWIFT Messages
    • Leasing SBLC
    • SBLC Monetizing
    • SBLC & BG Providers
  • Banking news
  • Contact Us

Logo BBCI
  • About Us
  • Services
    • Asset Enhancement Advisory
    • Consultancy
    • Outsourcing & Offshoring
    • Partnering
    • Real Estate JVs
    • Project and Structured Finance
  • PPP Trade
  • Project Financing
    • Infrastructure Project Finance
    • PPP Project Finance
    • Project Support Services
    • Project DPR
    • Funding Process
    • Project Business Plan
    • Project Funding
    • SFE-Air Cargo
    • Trade Finance
    • Corporate Finance
  • SBLC
    • Essential Deposit
    • Free Bank Guarantee
    • Buy or Lease SBLC
    • SBLC Factsheet
    • SWIFT Messages
    • Leasing SBLC
    • SBLC Monetizing
    • SBLC & BG Providers
  • Banking news
  • Contact Us
Twitter Linkedin Instagram

US formally removes Uganda from Agoa

By Jerry  Published On January 4, 2024

The United States has officially struck off Uganda and three other African countries as beneficiaries of the African Growth and Opportunity Act (Agoa), effectively ending Kampala’s ability to export certain commodities to the US duty-free.

In a decree dated December 29, President Joe Biden said he had “determined” that the four

countries “do not meet the requirements” necessary to allow them to continue benefiting from the trade deal, effecting his earlier stated plans to delist them.

“Accordingly, I have decided to terminate the designations of the Central African Republic, Gabon, Niger, and Uganda as beneficiary sub-Saharan African countries for purposes of section 506A of the Trade Act, effective January 1, 2024,” read the statement by the US President.

In an October 2023 letter to the speaker of the US Congress expressing his intention to remove the four countries from the list of Agoa beneficiaries, Mr Biden said Uganda has “engaged in gross violations of internationally recognised human rights.”

This came after President Yoweri Museveni assented to the anti-gay law passed by the Ugandan lawmakers, which introduced serious repercussions, including life imprisonment or death, for same-sex relations in the country.

Uganda’s expulsion from the deal could destroy thousands of jobs, cause a foreign-exchange earnings drought, and low utilisation of raw materials locally, experts have warned.

 

Source: The East African


Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

*

*

Umeme buyout to cost Uganda $225 million
Previous Article
Kenya weighs investment options as diaspora remittances hit $4.17 billion
Next Article

Explore

Home
About Us
Products
Our Services
Contact Us

Energy

Solar Energy
Wind Energy
Hydro Energy
Waste to Energy
Geothermal Energy

Petroleum

Petroleum Prices
Petroleum Trade Documents

Address

info@bbcifinance.com
3 Bd de Neuilly, 92400 Courbevoie – Paris la Défense. 
Tel & Whatsapp : +337 73 34 23 64
France

We help our clients thrive

More than 25 years of experience working in the industry has enabled us to build our services and solutions, and operations that help our clients with their trading projects around the world. Capabilities we leverage.

Twitter Linkedin Instagram
English
Español
한국어
繁體中文
Deutsch
Français
Vietnamese
Copyright 2022 by BBCI Finance All Right Reserved.