Maseru, Sept. 24 – The Minister of Trade, Industry and Business Development, Mr. Mokhethi Shelile, has revealed that the United States of America government has promised to extend Lesotho’s African Growth and Opportunity Act (AGOA) contract, which was initially set to expire on September 30.
Speaking at a press conference held at the Ministry’s headquarters in Maseru on Wednesday, Mr. Shelile explained that Lesotho had sent a delegation, including himself, the Minister of Labour and Employment Mr. Ts’eliso Mokhosi and other government officials, to lobby the extension with Members of Parliament of the USA who have reportedly agreed to a possible extension in November.
He noted that the extension, expected to last for one year, will come with conditions, including ensuring that Lesotho prioritizes U.S. orders in its factories.
As a strategy to mitigate risks and secure production, Mr. Shelile urged local entrepreneurs to explore alternative markets beyond the United States.
The Minister also highlighted that the reduction of the tariff rate from 50 percent to 15 percent has boosted optimism, with many factories already recalling employees to work. . . .
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