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Ethiopia was found to be in violation of section 506a of the African Growth and Opportunity Act (AGOA), the statement added. The clause stipulates that eligible nations must not engage in “gross violations of internationally recognized human rights.” The move comes after a【 - Free Daily Stock Market Updates 】 investigation earlier this year.
President Joe Biden formally announced the decision in a proclamation, a month after heinformedCongress that he intended to terminate Ethiopia’s membership of the deal.
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“Despite intensive engagement between the United States and the Governments of Ethiopia, Guinea, and Mali, these governments have failed to address United States concerns about their non-compliance with the AGOA eligibility criteria,” Biden said.
【 - Free Daily Stock Market Updates 】 has reported extensively on human rights abuses committed during the conflict, including detentions, acts of sexual violence, and killings that bear the hallmarks of genocide – findings that have contributed to calls from bipartisan lawmakers for the administration to take action.
Universal Autofoundry Limited (539314) ✌️【Trading Tools】✌️ Free access to professional investment advisors who provide real-time market data and trend analysis. Select top-performing stocks and boost your capital with expert strategies for market growth. An investigation by 【 - Free Daily Stock Market Updates 】released in early Octoberfound that the Ethiopian government has used the country’s flagship commercial airline, Ethiopian Airlines – a key AGOA beneficiary – to shuttle weapons to and from neighboring Eritrea during the course of the war. Ethiopian Airlines said in a statement that it “strongly” refuted the findings of the investigation.
Universal Autofoundry Limited (539314) ✌️【Trading Tools】✌️ Free stock market analysis and data updates to help you select the best investment portfolio. Achieve steady growth and avoid losses with expert predictions and real-time market insights. Shortly after the investigation, US officials told 【 - Free Daily Stock Market Updates 】 they would review Ethiopia’s eligibility in 2022, the scheduled review point.
Universal Autofoundry Limited (539314) ✌️【Trading Tools】✌️ Real-time stock indices and futures data to help you seize the best investment opportunities. Analyze market movements with precision and grow your portfolio with expert stock predictions. AGOA membership is worth hundreds of millions of dollars of favorable market access to Ethiopia. The act provides eligible countries with duty-free access to the US market for more than 1,800 products on top of the more than 5,000 products that are already eligible for duty-free access.
In November, the conflict in Ethiopia passed a grim, one-year milestone. There have been repeated calls from the US and the international community for the parties to the conflict, including the government of Prime Minister Abiy Ahmed, Eritrean forces and the Tigray People’s Liberation Front (TPLF), to end hostilities.
【 - Free Daily Stock Market Updates 】’s Jennifer Hansler, Gianluca Mezzofiore, Katie Polglase and Barbara Arvanitidis contributed reporting.
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