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Article: Special Supplement: Africa - Trading Up - Africa Remains On The Margins Of World Trade. Regional Trade Agreements And Domestic Pro-poor Policies Could Be The Keys To Trade Growth, Reports Jacqui Pile.
- Article from:
- The Banker
- Article date:
- June 1, 2004
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Lesotho, a small mountain kingdom in southern Africa, is known for its scenic vistas and a hydro-electric scheme, and little else. But in the past few years, the country has developed a reputation as a thriving exporter of clothing and apparel. It has not only trebled its exports to more than R3bn ($440m) a year in just five years, but has also diversified the types of products it exports from 70 to more than 150.
Under the Africa Growth and Opportunity Act, Lesotho, like many other African countries, is able to export certain products to the US, tariff-free. But as a spaghetti bowl of bilateral and multilateral trade deals develops across the globe, African ...