HARD TIMES FOR MADAGASCAR TEXTILE AND CLOTHING INDUSTRY FOLLOWING AGOA SUSPENSION
October 1st, 2010
BY VILLEN ANGANAN
Madagascar's textile and clothing sector has been harmed by the country's suspension from the USA African Growth and Opportunities Act (AGOA). It lost these trade benefits last December after President Andry Rajoelina seized power in March 2009 with army backing.
"More than 60,000 jobs were lost since the beginning of this year when Hong Kong companies were closed down with the removal of these trade facilities" by Washington following the takeover , said John Hargreaves, vice-chairman of the Madagascar Export Processing Zone ...
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