Project Establishment Name: Western Textile Limited: The African Growth and Opportunity Act (AGOA) was signed into law by former United States President Bill Clinton in May 2000.
AGOA had objectives that included expanding and deepening the trade and investment relationship with Sub-Saharan Africa, encouraging economic growth and development and regional integration, and helping facilitate the integration of Sub-Saharan Africa into the global economy.
The Ghana Ministry of Trade and Industry (MOTI) has taken the opportunity to develop a new strategic approach for utilizing Ghana’s preferential market access to the United States markets, extended by AGOA which was renewed in 2020 through a new business development policy agenda to strengthen the bilateral textile industrial production understanding till the end 2025 by the United States Congress.
As championed by WEL International Ghana Limited in collaboration with the project equipment and technology manufacturing company from Asia to leverage on vast greenfield arable farmlands of the Palopah Agricultural Industrialization Technology Park (PAITP – Darmstadt) development project with its projected autonomous self sustainably of power and its own water treatment, these two main projects may reduce considerably variable costs per unit because of operational efficiencies and synergies.
A foreign direct investment demand study by the Ghana Free Zones Board indicates that Ghana has a comparative advantage. The potential for the textile and garment industry is enormous and provides market access to eligible sub-Saharan African countries to enter the US Market. AGOA is estimated to have created as many calls for targeted investment to upscale Ghana’s exports to the US.