Agoa’s Business Opportunity – ZBF

25 April 2011

THE Africa Growth and Opportunity Act (AGOA) is a great opportunity that will bring wealth to Zambia if more local products penetrated the United States of America (USA) market, the Zambia Business Forum (ZBF) has said.

ZBF chairperson Mark O’Donnell said at the weekend that the size of the American market was so large that once meaningful trade was established, the benefits to the country would be enormous.

He said with more exports, Zambia would get more foreign earnings and thereby boost the economy.

“What we want is to encourage all business people in Zambian business to go and look at what can be done in the American market and take advantage of AGOA because in doing so, so many benefits can be brought into Zambia.

“And that would lead to the changes in life for many of our people in Zambia because that level of business will bring in exports and it will bring wealth as well,” he said.

Zambia would this year host the 10th AGOA conference in June at which More than 2,000 delegates would be taking part.

Mr O’Donnell said the ZBF would ensure that as many of its members take part in the AGOA conference to tap business opportunities.

He said his organisation would work on disseminating information on the AGOA to all members.

On the fears of high cost of transport to the American market, Mr O’Donnell said that was an issue that would be tackled in order to make sure that Zambian goods are not disadvantaged from source.

“We are 2000 km away from the USA coast and the transportation cost to the African coast is also significant but we have to look at how we can mitigate those factors to make it work more efficiently and effectively so that the North American market can be penetrated,” he said.

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